The latest mortgage loan calculator makes buying a house stress-free
Introduction: When it comes to purchasing a house, it is generally not a small amount, it can easily range from hundreds of thousands to hundreds or even thousands. Ten thousand. As the saying goes, if you don't have enough food and clothing, you won't have poverty, but if you don't plan well, you will suffer from poverty. Therefore, the editor of Tubatu in this article provides you with the latest mortgage loan calculator for 2015. Before buying a house, you can roughly calculate the future monthly payment and down payment, which can also make the entire house purchase more planned.
Before buying a house, can you calculate in advance how much money you will have to repay every month in the future? Many home buyers have this question. What Xiaotu wants to say is of course you can, just use the mortgage loan calculator. Below, Xiaotu will introduce to you how to use the mortgage loan calculator and related concepts.
You can search for "mortgage loan calculator" on Baidu and you will see a lot of them. Just click on it and you will see the mortgage calculator, provident fund loan calculator, early repayment counter, etc. Today Xiaotu mainly introduces to you the mortgage loan calculator for buying a house.
1. Loan type. Currently, the mainstream loan types include three major categories, namely commercial loans, provident fund loans and combination loans. Among them, commercial loans refer to a form of loan in which a home buyer uses the property purchased as a mortgage and applies for a loan from a commercial bank to pay for the house. The home buyer later repays the principal and interest in installments. Provident fund loans refer to provident fund loans that employees who have contributed to the housing provident fund can apply for in accordance with relevant regulations. Generally speaking, commercial loan interest rates are much higher than provident fund loan interest rates. A combination loan is a situation where commercial loans and provident fund loans are used at the same time, but the interest rates are calculated separately.
2. Calculation method. The calculation method includes calculation based on area, unit price and total loan amount. Home buyers can fill it out according to their actual situation.
3. Area and unit price. The area here refers to the size of the house you buy, and the unit price refers to how much per square meter. Both concepts are very easy to understand.
4. Mortgage years. Generally speaking, the mortgage period refers to the number of years you borrow from the bank, at least one year, and most often not more than 30 years. You can determine it based on your own financial situation.
5. Mortgage ratio. Mortgage ratio refers to the ratio of the total loan amount you borrow from the bank to the total house payment. To put it in perspective, the total price of the house you purchased is 1 million, and the mortgage ratio is 70%, which means you borrowed 700,000 from the bank.
6. Repayment method. Repayment methods include equal principal and interest and equal principal. If the principal and interest are equal, the more interest you pay in the early period, the less principal you pay, and the less interest you pay in the later period, the more principal you pay. No matter what, the monthly repayment amount of the home buyer remains unchanged. The principal repayment for equal principal payments is the same every month, and the interest will decrease over time, and the repayment will show a decreasing trend month by month.
After understanding the above concepts, I believe everyone can already use the mortgage loan calculator, so hurry up and calculate your monthly payment amount!
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Provident fund repayment calculator
Provident fund calculator is used to calculate the monthly repayment amount (principal) under the provident fund loan mode and interest) and the total interest to be paid. There are three calculation methods: equal principal repayment, equal principal and interest repayment, and free repayment.
1. Calculation method
1. Equal principal repayment
Average capital refers to a loan repayment method that divides the total loan amount into Equal parts, monthly repayments of the same amount of principal and interest accruing on the remaining loan. In this way, the monthly repayments are fixed and the interest is getting smaller and smaller. The lender is very stressed at first, but as time goes by, the monthly repayments become smaller and smaller. Average capital loan calculation formula:
Monthly repayment amount = (loan principal/number of repayment months) (principal - cumulative amount of principal repaid) × monthly interest rate
2 .Equal installments of principal and interest
Equal installments of principal and interest refers to a repayment method for home purchase loans, that is, the same amount of the loan (including principal and interest) is repaid every month during the repayment period.
The monthly repayment amount is calculated as follows: [Loan principal × monthly interest rate × (1-month interest rate) number of repayment months] ÷ number of repayment months [(1-month interest rate) number of repayment months - 1]
3. Free repayment method
Free repayment means that when you apply for a housing provident fund loan, the housing provident fund management center will give you a minimum repayment amount based on your loan amount and term. In the future, on the premise that the monthly repayment amount is not less than this minimum repayment amount, you can freely arrange the repayment method of the monthly repayment amount according to your own financial situation.
Second, loan interest rate
Generally, the benchmark interest rate for provident fund loans for first-time buyers is 10% higher than the benchmark interest rate for provident fund loans for second-home buyers. The following is the latest provident fund loan benchmark interest rate (implemented after August 26, 2015):
The annual interest rate for loans with a term of 5 years or less: 2.75%
The annual interest rate for a loan with a term of more than 5 years: 3.25 %
Three. Instructions for loan repayment
Provide funds are highly sought after by lenders for their low loan interest rates and convenient loan procedures. After buying a house with a provident fund loan, many people need to know how to repay the loan early. There are two ways to repay a loan early from the provident fund: full early repayment and partial early repayment:
Borrowers who have been issued a housing provident fund personal loan and the loan has not yet expired can use self-raised funds to repay in advance Loan principal. Borrowers must make regular repayments for more than one year before they can apply for early repayment. Among them, if you apply for partial repayment of the loan in advance, the minimum amount of each loan repayment is 10,000 yuan, which shall not be less than the principal and interest amount of the loan for 12 months, and must be repaid once every certain number of years.
In addition, borrowers who have made normal repayments for more than one year can also withdraw the balance in their housing provident fund account for partial or full repayment, but they can only withdraw once.
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Summary of the provident fund loan calculation formula
The provident fund loan calculation formula is a popular term for the provident fund loan calculator. , is calculated under the provident fund loan method, the monthly repayment amount (principal and interest), the total interest to be paid, etc. There are three calculation methods: equal principal repayment, equal principal and interest repayment, and free repayment method.
Summary of provident fund loan calculation formula
Equal principal repayment
Equal principal repayment refers to a loan repayment method, which is within the repayment period Divide the total amount of the loan into equal parts, and repay the same amount of principal and the interest generated by the remaining loan in that month every month. In this way, since the monthly repayment of the principal amount is fixed and the interest is getting less and less, the borrower is initially under repayment pressure. Larger, but monthly payments also get smaller over time.
Equal principal loan calculation formula:
Monthly repayment amount = (loan principal/number of repayment months) (principal - cumulative amount of principal repaid) × each Monthly interest rate
Equal installments of principal and interest
Equal installments of principal and interest refers to a repayment method for home purchase loans. During the repayment period, the same amount of the loan (including principal and interest) is repaid every month. (money and interest).
The monthly repayment amount is calculated as follows:
[Loan principal×monthly interest rate×(1-month interest rate)^number of repayment months]÷[(1-month interest rate)^ Number of repayment months - 1]
Free repayment method
Free repayment means that when you apply for a housing provident fund loan, the housing provident fund management center will give you a loan based on your loan amount and term. A minimum repayment amount. In the future, on the premise that the monthly repayment amount is not less than this minimum repayment amount, you can freely arrange the repayment method of the monthly repayment amount according to your own financial situation.
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The latest provident fund loan amount calculator 2015
The provident fund loan calculation is based on the loan repayment ability, house price ratio, and housing provident fund The account balance and the maximum loan limit are determined by four conditions. The minimum value calculated from the four conditions is the maximum loan amount that the lender can lend.
The calculation formula is:
[(the total monthly salary of the borrower, the monthly housing provident fund deposit amount of the borrower’s unit) × the loan repayment ability coefficient - the borrower’s existing loan monthly repayment Total amount]×Loan term (months).
If the spouse's quota is used:
[(the total monthly salary of both spouses, the monthly housing provident fund payment amount of the employer where both spouses work) × the loan repayment ability coefficient - the monthly payment of the existing loan of both spouses Total repayment] × loan term (months).
The loan repayment ability coefficient is 40%
Total monthly salary = monthly provident fund payment ÷ (unit contribution ratio individual contribution ratio).
How much can you borrow with a provident fund loan?
1. To apply for withdrawal of housing provident fund, you must submit a written application to the bank, fill in the housing provident fund loan application form and truthfully provide the following information:
1. Housing provident fund payment certificate of the applicant and spouse ;
2. Identity certificate of the applicant and spouse (referring to resident ID card, permanent residence booklet and other valid residence documents), documents proving marital status;
3. Stable financial income of the family Proofs and other proofs of claims and debts that have an impact on repayment ability;
4. Valid supporting documents such as contracts and agreements for purchasing a house;
5. Collateral used for guarantee, A list of pledged properties, proof of ownership, proof that the person with the right to dispose of the property agrees to mortgage or pledge, and a valuation certificate of the collateral issued by the relevant department;
6. The Provident Fund Center requires a third-party guarantor to provide a guarantee and pay the The guarantee fee shall be determined by a three-party contract signed by the borrower, the lender and the third-party guarantor.
7. Other information required by the Provident Fund Center.
2. For loan applications with complete information, banks will promptly accept and review them and submit them to the Provident Fund Center in a timely manner. The Provident Fund Center is responsible for approving loans and notifying banks of the approval results in a timely manner.
3. The bank will notify the applicant to handle the loan procedures based on the approval results of the Provident Fund Center. The borrower and his wife will sign a loan contract and related contracts or agreements with the bank, and submit the loan contract and other procedures to the Provident Fund Center for review. , the provident fund center will allocate the entrusted loan fund after approval, and the entrusted bank will disburse the loan in full and on time according to the loan contract.
4. If the guarantee is in the form of a housing mortgage, the borrower must go to the housing property rights management department in the area where the house is located to handle the real estate mortgage registration procedures. If the mortgage contract or agreement is signed by both husband and wife, and the securities are pledged, The borrower will hand over the securities to the management department or alliance center for safekeeping.
It does not need to be used to buy a house. In 2011, the Ministry of Housing and Urban-Rural Development was working with various departments to study and revise the "Housing Provident Fund Management Regulations" and liberalize the regulations on individuals withdrawing provident funds to pay housing rent. . In 2013, some cities introduced measures to allow employees with serious illnesses or their immediate family members to withdraw provident funds for emergency relief.
Conditions for rent withdrawal: if the employee has paid in full housing provident fund for three consecutive months, and if he and his spouse do not own a house in the city where the deposit is made and rent a house, both spouses can withdraw the housing provident fund to pay rent.
Extended information:
Housing provident fund loan conditions:
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who do not participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees of the system cannot apply for housing provident fund loans. Those who participate in the housing provident fund system must also meet the following conditions to apply for a housing provident fund personal home purchase loan: that is, they must have paid and deposited housing provident fund continuously for no less than six months before applying for a loan.
This is because if employees’ behavior of paying housing provident funds is abnormal and intermittent, it means that their income is unstable and risks will easily arise after the loans are issued.
2. One spouse has applied for a housing provident fund loan. Before the spouse has repaid the principal and interest of the loan, neither spouse can obtain another housing provident fund loan. Because housing provident fund loans are financial support provided to meet the basic housing needs of employee families, and are a type of "housing security" financial support.
3. When a loan applicant applies for a housing provident fund loan, in addition to having a relatively stable economic income and the ability to repay the loan, the loan applicant must not have a large amount of outstanding debt that may affect the repayment of the housing provident fund loan. capacity for other debts. When
employees have other debts, granting housing provident fund loans is very risky and violates the principle of safe operation of housing provident funds. The maximum term of provident fund loans shall not exceed 30 years. When applying for a portfolio loan, the loan terms of the provident fund loan and the commercial housing loan must be consistent. The basic conditions for applying for a housing provident fund home purchase loan mainly include three aspects: loan object, loan purpose, and basic housing loan conditions.
This concludes the introduction to the Guangxi Provident Fund Loan Calculator and Guangxi District Provident Fund Loan Amount Calculation. Have you found the information you need?