Definition:? When buying a house with an equal principal and interest loan, the formula for calculating the monthly repayment amount is: [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]⊙[( 1+ monthly interest rate) repayment months-1] Calculation principle: the bank collects the interest on the remaining principal from the monthly contribution. The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.

References:

Calculation formula of world mortgage

Extended data:

Upper limit of liquidated damages for house sale

1, liquidated damages can be divided into statutory liquidated damages and agreed liquidated damages. Statutory liquidated damages refer to liquidated damages in the applicable situation, proportion or amount specified by law; The agreed liquidated damages refer to the liquidated damages agreed by the parties to the contract on their own application, proportion or amount when signing the contract. There is no specified proportion of liquidated damages, as long as both parties accept it.

2. Paragraph 1 14 of Article 1 of the Contract Law stipulates that when one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party according to the breach of contract, or it may agree on the calculation method of the amount of damages for breach of contract. Therefore, liquidated damages are punitive, not based on the premise that the non-breaching party suffers losses.

Generally speaking, the upper limit of the contract penalty is not more than 30% of the actual loss. But if it is too high or too low, you can ask the court to reduce or increase it.

3. Paragraph 2 of Article 1 14 of the Contract Law stipulates that if the agreed liquidated damages are lower than the losses caused, the parties may request the court to increase them; If the agreed liquidated damages are excessively higher than the losses caused, the parties may request the court to reduce them appropriately.

References:

What is the maximum penalty for selling a house in the world? Provisions on liquidated damages for house sales