When it comes to buying a house loan, the concept of monthly payment is often mentioned, but for people who do not know much about economics, it is really hard to know where to start when calculating the mortgage loan and monthly payment. So today the editor will introduce to you the relevant knowledge on how to calculate the monthly mortgage payment. I hope it can help friends who are preparing to become house slaves.

How to calculate the monthly mortgage payment

1. Use formula to calculate

1. Equal principal and interest repayment method

Monthly payment amount = [Loan principal

Monthly interest rate

＾Number of repayment months]

〔＾Number of repayment months-1]

Monthly interest payable = loan principal

Monthly interest rate

〔^Number of repayment months-^]

〔^Number of repayment months-1]

Monthly principal repayment = loan principal

Monthly interest rate

^

[^Number of repayment months-1]

Total interest = number of repayment months

Monthly payment - loan principal

2. Equal principal repayment method

Monthly interest rate

Monthly principal repayment = loan principal

Number of repayment months

Monthly interest repayment = remaining principal

Monthly interest rate =

Monthly interest rate

Monthly monthly payment reduction amount = monthly principal repayment Mortgage

Monthly interest rate = loan principal

Number of repayment months

Monthly interest rate

Total interest = [+ total loan amount< /p>

Number of repayment months

]

2

Number of repayment months - total loan amount

2. Use the mortgage calculator to calculate

1. First select whether your repayment method is equal principal or equal principal and interest, and fill in the commercial loan period, loan amount and actual interest rate of the loan;

2. Choose whether to display repayment details and click the

Calculate

button to obtain detailed information such as the monthly payment amount, total loan interest, and total repayment for each period.

3. What is the difference between the equal principal repayment method and the equal principal repayment method?

1. Repayment of principal and interest in equal amounts

Explanation: Repayment of principal and interest in equal amounts means repaying the principal and interest of the loan in equal amounts every month during the loan period, that is, the total principal of the mortgage loan and The total amount of interest and principal is added up and evenly distributed to each month of the repayment period. Currently, more people choose this repayment method.

Features: In the monthly repayment amount, the proportion of principal increases month by month, and the proportion of interest decreases month by month.

Applicable people: It is more suitable for families with relatively stable incomes, who buy a house to live in, and whose financial conditions do not allow excessive initial investment, such as civil servants, teachers and other people with stable incomes.

2. Equal principal repayment

Explanation: Equal principal repayment refers to repaying the loan principal in equal installments every month, and the loan interest decreases monthly with the principal. That is, the principal is distributed to each month, and the interest between the previous repayment date and the current repayment date is paid in full.

Features: As time goes by, the repayment burden will gradually decrease, and the early repayment pressure will be greater. The advantage of this repayment method is that compared with the interest repaid in the early stage of equal principal and interest

Applicable people: people with high income and strong repayment ability and plans to repay in advance

Current loan What are the types of home buying?

1. Housing Provident Fund Loan

2. Personal Housing Commercial Loan

3. Personal Housing Portfolio Loan

Housing Provident Fund Management Center The maximum amount of provident fund loans that can be issued is generally 100,000 to 290,000 yuan. If the purchase price exceeds this limit, the shortfall must be applied for a commercial housing loan from the bank. Together, these two loans are called a portfolio loan. This business can be handled uniformly by the real estate credit department of a bank. Portfolio loans have moderate interest rates and larger loan amounts, so they are more popular among borrowers.