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Mortgage Calculator and Loan Notes

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

MortgageLoan calculator: Interest rates are regulated by the central bank and are enforced by commercial banks. Deposit Interest = Principal * Interest Rate * Term (Special Note: The central bank publishes interest rates based on annual basis. If it is for half a year or current period, it must be converted into monthly interest rate and daily interest rate) The calculation of loan interest rate is more complicated: expired One-off payment, with the above calculation of deposit interest. There is now the most talked aboutMortgage LoansThe calculation of interest is calculated using the annuity formula to calculate the monthly supply. The calculation formula for the mortgage month is: A=P{i(1+i)^n/[(1+i)^n-1]}A: Monthly Contribution P: Total amount of contribution i: Monthly interest rate (Yi Li / 12) n: Total number of months of contribution (Year × 12) Example: Purchase of a house of 500,000 RMB, first phase three transactions 150,000. For 35 million yuan 20 Year, hypothesis (pay attention to apply according to each bank's actual interest rate) the 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.

Loan Notes: 1. When applying for a loan, the loan applicant makes a correct judgment on his/her repayment ability. Design your repayment plan according to your income level, and leave room for it, not to affect your normal life. 2. The loan applicant chooses the appropriate repayment method. Respectively, equal repayment methods andEqual principal repaymentThere are two ways. Once the repayment method is stipulated in the contract, it cannot be changed during the entire loan period. 3. Loan applicants will repay on time every month to avoid penalty interest. From the next month when the loan is initiated, the loan is usually made on the repayment date in the next month. Do not inadvertently cause penalties for penalties because of negligence on your part. As a result, the bank cannot apply for a loan again. 4. The loan applicant will properly keep your contract and loan, carefully read the terms of the contract, and understand their own rights and obligations.

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