1, housing provident fund loans: for having participated in the housing provident fund to pay the residents, purchase loans, housing provident funds should be first choice for low-interest loans. Housing Loan Fund has a policy of the nature of subsidies, low interest rates, not only lower than the same period of commercial bank lending rate (commercial banks is only half the mortgage rates), but also lower than the same period of commercial bank deposit rate, that is, in the housing fund Mortgage interest rates and bank deposit interest rate spreads between the one. At the same time, housing provident fund loans for the mortgage insurance and other related charges clearance by half.
2, individual housing loan business: more than two loans limited to a housing fund to pay for staff in the use of the unit, the limited number of conditions, therefore, not deposited in the housing accumulation fund loans were missed, but the commercial banks can apply for individual housing loan guarantees, That is, bank mortgage lending. As long as your bank balance in the loan account to purchase housing funding required for the ratio of no less than 30% as house down payment, and bank loans are approved or pledge assets as collateral, or adequate compensation Or the ability to repay the loan principal and interest as a personal commitment and joint and several liability of a guarantor, then the bank can apply for mortgage loans.
3, individual housing loan portfolio: housing fund management center of the Provident Fund loan can be paid up to a maximum of 10-29 million for the general, if the house shall exceed this limit, in part to the lack of commercial banks to apply for housing loans. The two loans together referred to as the loan portfolio. The business can be a Ministry of the bank's real estate credit for reunification. Loan portfolio of more moderate rate, the larger the amount of the loan, which was more choice of lenders.
Personal housing loans to entrust (loan fund) the most cost-effective, individual housing loans (commercial loans) interest burden, but there is little difference between the repayment, we may as well look for comparison:
Assuming a couple buyers to purchase a total of 500,000 yuan housing, with its own funds to pay 30 percent down payment, that is 150,000 yuan, 350,000 yuan and the remaining 15 years to apply for loans. The couple on revenue of 6,000 yuan, on provident fund deposit ratio was 20% (business and personal burden on the half), the fund now total 40,000 yuan. Commercial loans than the burden of policy loans is much higher, reaching 1 / 3, also on the amount of more than 10% of the total number of nearly 50,000 yuan, is not insignificant. That being the case, natural selection should be entrusted to individual housing loans, but not the couple can not rely on individual housing loans entrusted, even if their existing fund of 4 million is 10 times lower rate calculation, they can apply for The 400,000 yuan loan fund, but because the policy loan ceiling of only 300,000 yuan, 350,000 yuan is therefore not possible. As a result, the couple is only second best to choose the individual housing loan portfolio. In that case, their monthly repayment burden to bear this? Say their monthly repayment 2781.45 yuan, but they can be part of the repayment period to cover the monthly deposit of the fund, the amount could reach up to 20% of total revenue , That is 1200 yuan / month, then they need to pay for the floor section only (2781.45-1200) 1581.45 yuan / month, and their monthly income of 6,000 yuan compared to the burden is very light. However, if there is no support for the fund, entirely on commercial loans, the monthly repayment burden is quite heavy, but accounted for 50% of the total revenue of about a mortgage or acceptable. Buyers identified in the proposed budget for the purchase of a building may wish to carefully calculate, compare the lists several options to apply for the loan again.
Provident Fund for housing loans should be the following:
(A) the borrower to apply for housing loan fund to the city housing fund management center application in writing, fill out the housing accumulation fund loan application form and provide factual information.
(B) of the city housing fund management center in charge of borrowers eligible guarantor eligibility, loan amount and loan term of the contract to complete the review and consent of the borrower and the Center for the signing of the relevant contracts or agreements, the People's Bank of China and insurance regulations.
(C) of the loan check has been completed, the city housing fund management center for the bank to grant loans to a notice issued by the bank loan received a notice of classified loans to pay for procedures
To remind: purchase, based on the borrower's own funds to pay, the banks estimated that the amount of loans that can and the monthly repayment amount. According to the management of the fund provides an annual extraction. The assumption that customers once a year to fund the extraction of 15,000 yuan, while the monthly loan repayment fund amounted to 1,500 yuan, the repayment of commercial loans amounted to 1,000 yuan in the way of repayment can enroll in the "balance of the loan-to-red", that is, extracting the first fund to return Month housing accumulation fund loans and commercial loans principal and interest (a total of 2,500 yuan), the balance of 12,500 yuan can be a one-time repayment of commercial housing loans, commercial housing loans to pay off the principal, and then the remaining funds to repay the principal of the loans, because Commercial lending rates higher than the funds rate. "Chong repayment", the borrower can choose to shorten the period of repayment of the original or choose to repay the same period, also on reducing the amount of the loan approach. However, commercial bank customers to repay in advance the number of times that there is a certain limit. If customers choose the "principal and interest matching" method of repayment, the monthly repayment amount equal to maintain the same 2,500 yuan, the extraction of 15,000 yuan fund will be charged according to the original mode charge 2,500 yuan per month in a row. Lack of balance, the borrower should be in full and on time will be used to repay the money into the bank card, both the repayment method, customers can choose according to their own reality.
If the customer when they apply for the purchase of individual housing loans of the commercial, such as: personal housing mortgage loans, the transfer of individual housing loans, personal loans re-transaction housing. At that time, buyers who, for various reasons do not apply to "fund" loans, and now personal funds deposited in the required amount and number of years, and has to apply for funds to meet the conditions for purchase loans, while commercial banks do not currently able to purchase commercial Conversion of loans to fund housing loans, but funds can be extracted for commercial loans to repay principal and interest. As long as the borrower to the public
Oct 29, 2008
Effect of rate increases appear not miss home loan repayment ahead of schedule
Interest rate effect is about to implement, on an increase for the countdown
The beginning of 2008, loans to buy consumers each month to pay more than the original by about 10% interest. This is Mr. Wang will soon have to face the facts. In January 2007, Mr. Wang bought a set of ancient North at 2,400,000 yuan worth of residential, commercial loan applications for 1,000,000 yuan, equal to adopt repayment of principal and interest repaid in 20 years, when the benchmark interest rate to 6.84 percent, the discount rate to fall 15% Interest at the rate of 5.814 percent, that is, on the repayment 6852.56 yuan.
However, in January 2008 to 1, according to the current 7.83 percent benchmark interest rate to float downward by 15%, or 6.655 percent to calculate the monthly repayment of 7547.56 yuan. Only on the difference between interest payment, the difference between 695 yuan.
This is not just a Mr. Wang who is about to face the reality. At present, the major banks in Shanghai are mostly personal loans with a fixed interest rate adjusted annually on the program, the majority of buyers, this year's 5th rate increase for the month of the year does not affect, but from the 2008 New Year's Day, The impact will be to implement it, early in 2007 the buyers one-stop interest rate increases by 1 percentage point or so.
Strategy: based on their repayment selection method
According to the industry, can be divided into early repayment of all loan ahead of schedule and ahead of schedule part of the loan in two ways. Faster income growth, relatively strong economic strength of the family can be a one-time payment, to maximize the savings will be asked to pay interest. Relatively stable income and relatively few investment channels of the family, can be used high-frequency part of the loan several times.
For some of the early repayment of the loan, there are roughly 3 kinds of ways for them to choose. To Mr. Wang, for example, assume that the early repayment of 500,000 yuan, 434,196 yuan of the remaining principal. Equal to the repayment of principal and interest repayment method to calculate the amount of the 21st century real estate financial experts give the following principal repayment methods.
First, some of the early repayment, the amount of repayment is the same, shortening the repayment period.
7057.42 yuan per month to maintain the repayment, the repayment period be shortened to 6 years and five months. Total interest 93587.69 yuan. This means the overall interest payments at least relatively, for the repayment ability of the customer base is relatively appropriate.
Second, some of the early repayment, the repayment period of change, reducing the amount of repayment.
In the 228 months 434,196 yuan to pay off the loan, monthly repayments required to 3360.2 yuan. Total interest 331,930 yuan. This approach reduces the repayment burden for the month, but the interest savings to a limited extent.
Third, the remainder of the total principal amount of loans to maintain the same, shortening the repayment period.
The remainder of the loan repayment period to 10 years on from the initial amount of 3276.99 yuan to 4964.52 yuan. Total interest 161,546 yuan. This approach can reduce some of the interest, but compared to the second method, and the monthly repayment of the relatively large pressure.
Way above both advantages and disadvantages, according to the individual needs of the borrower's ability to repay current and future expected ability to repay the loan to choose their own way.
Concern: the various bank operations for the difference
In addition to the rational choice of loans, the loan must also know ahead of time for each bank loan to the specific requirements in order to smooth repayment. Co-rich home mortgage transaction manager to remind Mr. Yin, in the course of repayment need to pay attention to these areas.
One, it is necessary to carefully check the loan contract. In the face of the contract on the loan in advance to collect liquidated damages provisions in areas such as the relatively clear, those who repay their loans do homework, the operation was to be bottom. In addition to the purchase of individual bank loan repayment six months ahead of schedule after no liquidated damages, most of the bank provides loan to not more than a year in advance loan to pay liquidated damages to varying degrees. The specific amount of each bank is different, some based on a monthly interest rate of the standard, some banks to the total percentage of the loan amount as a standard. Generally banks on the repayment of more than a year will not be liquidated damages.
Second, it is necessary ahead of time and an appointment to repay bank loans, the best two weeks to one month in advance. Due to already by the end of November, there are plans to repay the need to seize the moment. Each of the banks are not conditions of appointment, will be able to repay their loans ahead of telephone banking.
Third, we should pay attention to the date of the agreement must comply with the good, otherwise there will be bad records.
Repayment would be premature: other ways to save money
Indeed be able to repay their loans ahead of schedule to save the effective interest rate, but that does not mean that we all rush to repay their loans ahead of schedule, some ahead of time is not suitable for the loan.
First of all, more investment channels, household income structured finance loans to those who do not have to repay their loans early. For them, it could be an appropriate increase in mortgage ceiling, to optimize the family's reasonable financial structure, the more revenue for investment. At present, capital markets, a higher rate of return if there is a good investment, then the proceeds can offset mortgage interest and in excess of expenditures.
Second, the loan has a certain time of the loan were not suitable for early repayment. Since the early repayment of the amount of time also by all as the principal, after the repayment of the remaining principal, as the re-calculation of the amount of repayment, the loan more than a certain number of years, the province can not repay their loans early interest. In particular, the use of matching principal and interest repayment, the early repayment of more interest is that the latter part of the expenditure was mainly to the principal. Yi-chen letter home buyers to remind customers of financial management experts, the use of principal and interest loans and matching loans of more than 1 / 2 years, there is no need to repay their loans early.
This is part of the need for early repayment of the loan are, in fact, can also be other ways to control due to the adjustment of interest costs.
Relevant recommendations, the banks have the option of matching products to save interest, such as through free trade to select some of the mortgage banks for the fortnight, the loan-to-air balloon, fixed-rate products; or select some of the bank's financial products, such as loan-deposit Arrived in loan business to increase the deposit interest loans to reduce interest payments.
The beginning of 2008, loans to buy consumers each month to pay more than the original by about 10% interest. This is Mr. Wang will soon have to face the facts. In January 2007, Mr. Wang bought a set of ancient North at 2,400,000 yuan worth of residential, commercial loan applications for 1,000,000 yuan, equal to adopt repayment of principal and interest repaid in 20 years, when the benchmark interest rate to 6.84 percent, the discount rate to fall 15% Interest at the rate of 5.814 percent, that is, on the repayment 6852.56 yuan.
However, in January 2008 to 1, according to the current 7.83 percent benchmark interest rate to float downward by 15%, or 6.655 percent to calculate the monthly repayment of 7547.56 yuan. Only on the difference between interest payment, the difference between 695 yuan.
This is not just a Mr. Wang who is about to face the reality. At present, the major banks in Shanghai are mostly personal loans with a fixed interest rate adjusted annually on the program, the majority of buyers, this year's 5th rate increase for the month of the year does not affect, but from the 2008 New Year's Day, The impact will be to implement it, early in 2007 the buyers one-stop interest rate increases by 1 percentage point or so.
Strategy: based on their repayment selection method
According to the industry, can be divided into early repayment of all loan ahead of schedule and ahead of schedule part of the loan in two ways. Faster income growth, relatively strong economic strength of the family can be a one-time payment, to maximize the savings will be asked to pay interest. Relatively stable income and relatively few investment channels of the family, can be used high-frequency part of the loan several times.
For some of the early repayment of the loan, there are roughly 3 kinds of ways for them to choose. To Mr. Wang, for example, assume that the early repayment of 500,000 yuan, 434,196 yuan of the remaining principal. Equal to the repayment of principal and interest repayment method to calculate the amount of the 21st century real estate financial experts give the following principal repayment methods.
First, some of the early repayment, the amount of repayment is the same, shortening the repayment period.
7057.42 yuan per month to maintain the repayment, the repayment period be shortened to 6 years and five months. Total interest 93587.69 yuan. This means the overall interest payments at least relatively, for the repayment ability of the customer base is relatively appropriate.
Second, some of the early repayment, the repayment period of change, reducing the amount of repayment.
In the 228 months 434,196 yuan to pay off the loan, monthly repayments required to 3360.2 yuan. Total interest 331,930 yuan. This approach reduces the repayment burden for the month, but the interest savings to a limited extent.
Third, the remainder of the total principal amount of loans to maintain the same, shortening the repayment period.
The remainder of the loan repayment period to 10 years on from the initial amount of 3276.99 yuan to 4964.52 yuan. Total interest 161,546 yuan. This approach can reduce some of the interest, but compared to the second method, and the monthly repayment of the relatively large pressure.
Way above both advantages and disadvantages, according to the individual needs of the borrower's ability to repay current and future expected ability to repay the loan to choose their own way.
Concern: the various bank operations for the difference
In addition to the rational choice of loans, the loan must also know ahead of time for each bank loan to the specific requirements in order to smooth repayment. Co-rich home mortgage transaction manager to remind Mr. Yin, in the course of repayment need to pay attention to these areas.
One, it is necessary to carefully check the loan contract. In the face of the contract on the loan in advance to collect liquidated damages provisions in areas such as the relatively clear, those who repay their loans do homework, the operation was to be bottom. In addition to the purchase of individual bank loan repayment six months ahead of schedule after no liquidated damages, most of the bank provides loan to not more than a year in advance loan to pay liquidated damages to varying degrees. The specific amount of each bank is different, some based on a monthly interest rate of the standard, some banks to the total percentage of the loan amount as a standard. Generally banks on the repayment of more than a year will not be liquidated damages.
Second, it is necessary ahead of time and an appointment to repay bank loans, the best two weeks to one month in advance. Due to already by the end of November, there are plans to repay the need to seize the moment. Each of the banks are not conditions of appointment, will be able to repay their loans ahead of telephone banking.
Third, we should pay attention to the date of the agreement must comply with the good, otherwise there will be bad records.
Repayment would be premature: other ways to save money
Indeed be able to repay their loans ahead of schedule to save the effective interest rate, but that does not mean that we all rush to repay their loans ahead of schedule, some ahead of time is not suitable for the loan.
First of all, more investment channels, household income structured finance loans to those who do not have to repay their loans early. For them, it could be an appropriate increase in mortgage ceiling, to optimize the family's reasonable financial structure, the more revenue for investment. At present, capital markets, a higher rate of return if there is a good investment, then the proceeds can offset mortgage interest and in excess of expenditures.
Second, the loan has a certain time of the loan were not suitable for early repayment. Since the early repayment of the amount of time also by all as the principal, after the repayment of the remaining principal, as the re-calculation of the amount of repayment, the loan more than a certain number of years, the province can not repay their loans early interest. In particular, the use of matching principal and interest repayment, the early repayment of more interest is that the latter part of the expenditure was mainly to the principal. Yi-chen letter home buyers to remind customers of financial management experts, the use of principal and interest loans and matching loans of more than 1 / 2 years, there is no need to repay their loans early.
This is part of the need for early repayment of the loan are, in fact, can also be other ways to control due to the adjustment of interest costs.
Relevant recommendations, the banks have the option of matching products to save interest, such as through free trade to select some of the mortgage banks for the fortnight, the loan-to-air balloon, fixed-rate products; or select some of the bank's financial products, such as loan-deposit Arrived in loan business to increase the deposit interest loans to reduce interest payments.
Personal housing loans to repay the two methods of comparison
Two of the individual housing loan repayments for a specific method:
Equal principal and interest repayment method, that is, each month the borrower to repay the loan equal to the amount of principal and interest, also known as the matching method; equal to repay the principal of law, that is, the borrower in equal monthly repayment of principal, interest on the loan principal with the monthly decline, It also reduced the amount on a monthly basis, the decrease also known as the law.
The assumption that the borrower from the bank to obtain a sum of 200,000 yuan in personal housing loans, the loan period of 20 years, the interest rate on loans to 4.2 ‰, debt service per month.
If we do not consider the time factor, the monthly debt service will simply accumulate throughout the repayment period, repayment of the principal amount equal under the law the borrower to pay interest on a total of 101,212 yuan, while the principal and interest method of matching a total of 117,856 yuan to pay interest, the two Compared to those, equal to repay the principal Act to pay 16,620 yuan less. However, the time factor to consider, on the interest rate to 4.2 ‰ two ways to repay debt service per month under the difference between the discount to the loan, the sum of 0. In other words, from the static, there are two ways to repay the interest differential, but dynamic, taking into account the time factor, the repayment of two completely different ways! Being overlooked because of the time value of money, Many borrowers choose the wrong idea that they equal pay principal and interest repayment of interest law.
In that case, both the repayment of interest are under way and how it calculated?
"Equal to repay the principal of" the same as the monthly repayment of principal, payable in monthly interest from outstanding loans with interest rates on loans are multiplied together to produce. In accordance with the above example, the monthly repayment of the principal should be 833.33 yuan, the first phase of the loan balance of 200,000 yuan, the principal of the return of 833.33 yuan and 840.00 yuan to pay interest (200000 × 4.2 ‰), there is a shortage of bank loans 199166.67 yuan; in the second period The return of the principal amount of 833.33 yuan and 836.50 yuan to pay interest (199166.68 × 4.2 ‰), there is a shortage of bank loans 198333.33 yuan; ... ....
"Law repayments of principal and interest equal," the return of principal and interest each month and the same, as the "principal and interest payments equal" formula is only given a month to meet the principal and interest and, therefore, need to break down and the principal and interest. More cases are still based, according to the formula for calculating the monthly repayment of principal and interest and should 1324.33 yuan, the first phase of the loan balance of 200,000 yuan and 840.00 yuan to pay interest (200000 × 4.2 ‰), we can only return the principal amount of 484.33 yuan, still 199515.67 yuan of loans owed to banks; the second phase of payment of interest should be 837.97 yuan (199515.67 × 4.2 ‰), the principal of the return of 486.37 yuan, there is a shortage of bank loans 199029.30 yuan; ... ....
Through case-by-phase analysis can be seen in the matching principal repayment and repayment of principal and interest equal law, banks are in accordance with the borrower's loan amount and the actual occupancy rates should be provided for the interest. Moreover, if the same discount rate will be discounted to the amount of each base period, the amount is equal to the full.
Some people may ask, I can not "equal to repay principal and interest" in the first principal of yet another interest, this is not a quick return of the principal and interest can be saved? In fact, in terms of the amount of each repayment Also the number of the principal, how much interest should be repaid, the total amount is the same, because no schedule for the payment of "interest" to be paid the same interest, then the next issue of the bank's outstanding amount remains the same.
Through the above analysis we can see that although all 200,000 yuan, a 20-year loan period, but due to the repayment of the principal amount of time, the bank occupied by the actual time the funds will be different. In general, "equal to repay principal and interest" to use bank loans to longer period of time, the interest rate in the same circumstances, we should also pay more interest. Therefore we can not simply that the "two ways to eventually repay the principal of the same, but the difference between the interest paid 16,620 yuan." The reason is that the principal difference is the difference in interest rates, the amount must be in accordance with the size and duration of dollars to pay interest should each with the difference between compound interest formula compared to the same point in time.
Can intuitively, in the 20-year repayment period, repayment of the principal amount equal before the law on 101 than on repayment of principal and interest equal to, so on repayment of the principal law on equal pay less should be part of the interest, The difference between the two types of repayment of interest law is less to pay 16,620 yuan in this part of the payment. Therefore it can be said that, according to the time value of money, whether law on equal principal and interest repayment, or repay principal on the matching law, the loan-to-it, and also by the fact shall be regarded as equivalent. Qian Hai lost to advance, you can pay less interest. The amount of money is on the basis of the borrower to pay at the front.
How to choose their own way of repayment
There is no way to repay both cost is not worthwhile, but depends on the suitability of their own economic situation. Choice of repayment methods is the key to their income to match the trend, as far as possible so that the income curve and consistent contribution.
Equal principal and interest repayment method is characterized by the return of the same principal and interest each month and easily make the budget. The early repayment of interest on the monthly mortgage payments account for most of that with the gradual return of the principal contributions to increase the proportion of principal. Equal principal repayment method is characterized by the return of the principal each month, according to the loan principal balance of the interest on a daily basis, the larger the early repayment, the monthly repayment amount is gradually reduced. Is due to the reduced monthly payments required careful calculation.
If the time for the abscissa, ordinate the establishment of funds for the two-dimensional coordinates, the method of matching contributions curve is a horizontal coordinate with the equilibrium of a straight line, and the decline is a downward curve. If the repayment period, the income curve on the rise, with the principal and interest repayment method of matching the curve is more consistent, if the income curve downward trend, with the repayment of the principal method of matching the curve more consistent. Therefore, in accordance with the general trend of revenue, matching the principal and interest repayment method is more applicable to current income, revenue is expected to be stable or increase borrowing, or the budget clear and stable income, in general for young people, particularly At first the work of the young people chosen for this approach in order to avoid too great a contribution in the early pressure. The principal repayment matching method is applied to income in the peak period, especially after the expected revenue will reduce or increase the financial burden on families, usually middle-aged and elderly.
Equal principal and interest repayment method, that is, each month the borrower to repay the loan equal to the amount of principal and interest, also known as the matching method; equal to repay the principal of law, that is, the borrower in equal monthly repayment of principal, interest on the loan principal with the monthly decline, It also reduced the amount on a monthly basis, the decrease also known as the law.
The assumption that the borrower from the bank to obtain a sum of 200,000 yuan in personal housing loans, the loan period of 20 years, the interest rate on loans to 4.2 ‰, debt service per month.
If we do not consider the time factor, the monthly debt service will simply accumulate throughout the repayment period, repayment of the principal amount equal under the law the borrower to pay interest on a total of 101,212 yuan, while the principal and interest method of matching a total of 117,856 yuan to pay interest, the two Compared to those, equal to repay the principal Act to pay 16,620 yuan less. However, the time factor to consider, on the interest rate to 4.2 ‰ two ways to repay debt service per month under the difference between the discount to the loan, the sum of 0. In other words, from the static, there are two ways to repay the interest differential, but dynamic, taking into account the time factor, the repayment of two completely different ways! Being overlooked because of the time value of money, Many borrowers choose the wrong idea that they equal pay principal and interest repayment of interest law.
In that case, both the repayment of interest are under way and how it calculated?
"Equal to repay the principal of" the same as the monthly repayment of principal, payable in monthly interest from outstanding loans with interest rates on loans are multiplied together to produce. In accordance with the above example, the monthly repayment of the principal should be 833.33 yuan, the first phase of the loan balance of 200,000 yuan, the principal of the return of 833.33 yuan and 840.00 yuan to pay interest (200000 × 4.2 ‰), there is a shortage of bank loans 199166.67 yuan; in the second period The return of the principal amount of 833.33 yuan and 836.50 yuan to pay interest (199166.68 × 4.2 ‰), there is a shortage of bank loans 198333.33 yuan; ... ....
"Law repayments of principal and interest equal," the return of principal and interest each month and the same, as the "principal and interest payments equal" formula is only given a month to meet the principal and interest and, therefore, need to break down and the principal and interest. More cases are still based, according to the formula for calculating the monthly repayment of principal and interest and should 1324.33 yuan, the first phase of the loan balance of 200,000 yuan and 840.00 yuan to pay interest (200000 × 4.2 ‰), we can only return the principal amount of 484.33 yuan, still 199515.67 yuan of loans owed to banks; the second phase of payment of interest should be 837.97 yuan (199515.67 × 4.2 ‰), the principal of the return of 486.37 yuan, there is a shortage of bank loans 199029.30 yuan; ... ....
Through case-by-phase analysis can be seen in the matching principal repayment and repayment of principal and interest equal law, banks are in accordance with the borrower's loan amount and the actual occupancy rates should be provided for the interest. Moreover, if the same discount rate will be discounted to the amount of each base period, the amount is equal to the full.
Some people may ask, I can not "equal to repay principal and interest" in the first principal of yet another interest, this is not a quick return of the principal and interest can be saved? In fact, in terms of the amount of each repayment Also the number of the principal, how much interest should be repaid, the total amount is the same, because no schedule for the payment of "interest" to be paid the same interest, then the next issue of the bank's outstanding amount remains the same.
Through the above analysis we can see that although all 200,000 yuan, a 20-year loan period, but due to the repayment of the principal amount of time, the bank occupied by the actual time the funds will be different. In general, "equal to repay principal and interest" to use bank loans to longer period of time, the interest rate in the same circumstances, we should also pay more interest. Therefore we can not simply that the "two ways to eventually repay the principal of the same, but the difference between the interest paid 16,620 yuan." The reason is that the principal difference is the difference in interest rates, the amount must be in accordance with the size and duration of dollars to pay interest should each with the difference between compound interest formula compared to the same point in time.
Can intuitively, in the 20-year repayment period, repayment of the principal amount equal before the law on 101 than on repayment of principal and interest equal to, so on repayment of the principal law on equal pay less should be part of the interest, The difference between the two types of repayment of interest law is less to pay 16,620 yuan in this part of the payment. Therefore it can be said that, according to the time value of money, whether law on equal principal and interest repayment, or repay principal on the matching law, the loan-to-it, and also by the fact shall be regarded as equivalent. Qian Hai lost to advance, you can pay less interest. The amount of money is on the basis of the borrower to pay at the front.
How to choose their own way of repayment
There is no way to repay both cost is not worthwhile, but depends on the suitability of their own economic situation. Choice of repayment methods is the key to their income to match the trend, as far as possible so that the income curve and consistent contribution.
Equal principal and interest repayment method is characterized by the return of the same principal and interest each month and easily make the budget. The early repayment of interest on the monthly mortgage payments account for most of that with the gradual return of the principal contributions to increase the proportion of principal. Equal principal repayment method is characterized by the return of the principal each month, according to the loan principal balance of the interest on a daily basis, the larger the early repayment, the monthly repayment amount is gradually reduced. Is due to the reduced monthly payments required careful calculation.
If the time for the abscissa, ordinate the establishment of funds for the two-dimensional coordinates, the method of matching contributions curve is a horizontal coordinate with the equilibrium of a straight line, and the decline is a downward curve. If the repayment period, the income curve on the rise, with the principal and interest repayment method of matching the curve is more consistent, if the income curve downward trend, with the repayment of the principal method of matching the curve more consistent. Therefore, in accordance with the general trend of revenue, matching the principal and interest repayment method is more applicable to current income, revenue is expected to be stable or increase borrowing, or the budget clear and stable income, in general for young people, particularly At first the work of the young people chosen for this approach in order to avoid too great a contribution in the early pressure. The principal repayment matching method is applied to income in the peak period, especially after the expected revenue will reduce or increase the financial burden on families, usually middle-aged and elderly.
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