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Mortgage Calculator and Loan Notes

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

MortgageLoan Calculator: Interest rates are regulated by the central bank, the implementation of commercial banks. Deposit interest = principal * interest rate * period (with particular attention, the central bank announced interest rates are based on the year, if it is half a year or the current period, to be converted into monthly interest rates and interest rates) Loan interest calculation is more complex: One-time payment, with the above deposit interest calculation. There is now everyone speak the mostMortgage LoansThe calculation of interest is calculated using the annuity formula, and the calculation formula for the monthly mortgage is given by: A = P {i (1 + i) ^ n / [(1 + i) ^ n-1] Contribution P: Total amount of contribution i: Monthly rate (year / 12) n: Total monthly contribution (year × 12) Example: Purchase 500,000 yuan of the house, the first three transactions of 150,000 for 35 million 20 (I = 5.4% / 12 = 0.45%) Monthly contribution A = 350000 × {0.45% (1 + 0.45%) 240 / [(1 + 0.45%) 240-1]} = 2388 yuan.

Loan Note: 1, in the application for loans, the loan applicant to make their own repayment ability to make the right judgments. According to their income level design repayment plan, and appropriate leave room, do not affect their normal life. 2, the loan applicant to choose the appropriate way to repay. Are equal repayment methods andEqual principal repaymentWay two, repayment method once agreed in the contract, in the entire loan period shall not be changed. 3, the loan applicant monthly repayment to avoid penalty interest. From the loan to start the next month, the general is the month of the loan time for the repayment date, not because of their own negligence caused by default penalty, resulting in another bank can not apply for loans when the approval. 4, the loan applicant to properly keep your contract and the receipt, and carefully read the terms of the contract to understand their rights and obligations.

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