February 25, 2021

How to calculate house mortgage interest


Nowadays, more and more people are buying houses, and banks’ loan companies are becoming more and more popular. However, many of them are not very clear about the interest calculation ability of Bank of China’s bad loans. How should the mortgage interest be calculated? Let me give you a specific calculation.

供樓利息

1. Mortgage down payment: When buying a house for the first time, banks generally require a down payment of 30% of the house price; if buying a second house, the down payment ratio is higher. The specific standard should refer to the prevailing standards in this city.

2. Bank loan interest rate: interest rate item annual interest rate (%), if the loan needs to estimate some daily interest, you can use annual interest rate/365 to convert to daily interest rate.

86 people within 6 months (including 6 months);

6 months to 1 year (including 1 year) loan 5.31;

1-3 years (including 3 years) loan 5.40;

3-5 years (including 5 years) loan 5.76;

Loans over five years 5.94

There are two ways to calculate mortgage interest:

1. Equal principal repayment method: The loan amount is divided into n equal periods according to the number of repayment periods, and the loan interest rate is multiplied by the outstanding principal in each period until the current interest is repaid;

2. Equivalent principal and interest repayment method: The principal and interest are annualized during the loan period, and the sum of the principal and interest returned in each period is equal. The first instalment interest is the amount of the principal occupied by the loan interest rate. The equal annuity paid in each period minus the first instalment is the principal repaid in the first instalment; the second instalment is calculated to repay the principal in the first The money is subtracted from the total loan principal to obtain the principal amount of the second period, and then multiplied by the loan interest rate to obtain the interest payable in the second period, and so on to subsequent periods.

The level of the loan interest rate can directly affect the profit distribution ratio between the bank and the development of the borrowing enterprise, and therefore affect the economic and social interests of both parties. Loan market interest rates vary with the types and maturities of online loan products, and are closely related to the scarcity of loan funds.

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