The monthly payment for a 500,000 mortgage loan is related to the interest rate of the loan, the term of the loan and the repayment method of the loan. Each of these factors is a factor that affects the monthly payment, so the specific monthly payment must be based on the actual situation. to be sure.

The common repayment methods of banks include equal principal and equal principal and interest. The equal principal payment means that the monthly repayment amount is different and decreases month by month; it equalizes the loan principal according to the total number of months of repayment, plus the interest on the remaining principal from the previous period, thus forming a monthly repayment The repayment amount is larger in the first month with the equal principal payment method, and then decreases month by month, and the repayments become smaller and smaller.

Equal principal and interest means that the monthly repayment amount is the same. Essentially, the proportion of the principal increases month by month, the proportion of interest decreases month by month, and the monthly repayment amount remains unchanged, that is, in each month In the distribution ratio of "principal and interest", in the first half of the period, the proportion of interest paid is large and the proportion of principal is small. After half of the repayment period, it gradually changes to a large proportion of principal and a small proportion of interest.

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