How to borrow a mortgage?
1, bank loans are divided into two repayment methods: equal principal and interest and average capital. Matching principal and interest means that the sum of principal and interest paid every month remains unchanged. The average capital is the total monthly repayment, in which the principal remains unchanged and the interest is calculated separately. There is also a saying that average capital's repayment method is more cost-effective than matching principal and interest. There are also misunderstandings in this formulation.
2. Assuming that the borrower chooses the repayment method of equal principal, the total loan amount is 6,543,800,000 yuan, and the average repayment of principal is 6,543,800,000 yuan, so the monthly repayment of principal is 6,543,800,000 yuan.
3. Under the repayment method of average capital, the total interest paid by the borrower is less than the repayment method of equal principal and interest due to the large amount of principal returned in the early stage. However, whether it is worthwhile to adopt this method needs a good analysis.
4. Once the repayment method of equal principal is selected, the borrower will repay the principal in advance because the amount of principal borrowed is relative to the equal principal and interest.
What should I pay attention to when applying for a mortgage?
1, apply for a mortgage and do what you can: some people think that the larger the loan amount, the better, but it is not! Because you have to pay the mortgage and interest. If your loan term is longer and the loan amount is larger, you will have to pay more loan interest and increase your repayment pressure.
2. Choose an appropriate repayment method: At present, there are two common repayment methods for mortgage loans, namely, equal principal and interest repayment and equal principal repayment. Among them, the latter is more economical than the former, but the pressure of prepayment is greater, and borrowers can make reasonable choices according to their own income.
3. Prepare loan information in advance: copy of ID card, copy of household registration book, copy of marriage certificate or single certificate, copy of education certificate, income certificate and bank account, copy of house purchase contract and down payment invoice, social security related certificates, etc. It is also very important that there is no bad credit record in bank loans or credit card repayments. If yes, you must apply for cancellation or issue relevant certificates.
4. Repay in full and on time: After obtaining the loan, the borrower must repay in full and on time according to the provisions in the loan contract, so as not to leave a bad credit record and cause unnecessary trouble.
Remember to cancel the mortgage after paying off the loan: after the borrower pays off the mortgage, don't forget to cancel the mortgage, otherwise the house will always be mortgaged in the bank, and it will be impossible to apply for a real estate mortgage loan in the future.