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# Mortgage Calculator and Loan Considerations

Time: 2017-01-18         Source: Rong 360 finishing         Author: 360 Financial consolidation

MortgageLoan calculatorThe interest rate is uniformly regulated by the central bank and is implemented by various commercial banks. Deposit interest = principal * interest rate * term (special attention, the central bank announced interest rates are based on the year, if it is half a year or current, to be converted into monthly interest rate and daily interest rate) loan interest calculation is more complicated: expiration One-time repayment, with the calculation of the deposit interest above. There is also the most talked about at present.Mortgage LoansThe calculation of interest is calculated by using the annuity formula to calculate the monthly mortgage. The calculation formula for mortgage monthly payment: A=P{i(1+i)^n/[(1+i)^n-1]}A: monthly Contribution P: Total amount of contributions i: monthly interest rate (annual profit / 12) n: total number of contributions (year × 12) Example: purchase of a house of 500,000 yuan, the first three transactions of 150,000. For 350,000 yuan 20 Year, assume (note that it should be applied according to the actual interest rate of each bank) annual interest rate I=5.4%, (i=5.4%/12=0.45%) monthly contribution A=350000×{0.45%(1+0.45%)240/ [(1+0.45%) 240-1]}=2388 yuan.

Note on loan: 1. When applying for a loan, the loan applicant makes a correct judgment on his ability to repay. Design a repayment plan based on your income level, and leave room for it to not affect your normal life. 2. The loan applicant chooses the appropriate repayment method. Equal repayment methods andEqual principal repaymentThere are two ways. Once the repayment method is agreed in the contract, it cannot be changed during the entire loan period. 3. Loan applicants can repay the penalty on time every month. From the next month when the loan is initiated, generally the next month's loan time is the repayment date. Do not cause the default penalty due to your negligence, which may result in the bank not being able to approve the loan when applying for the loan again. 4. The loan applicant should properly keep your contract and loan, and carefully read the terms of the contract to understand your rights and obligations.

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