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How to calculate the monthly supply and how to repay the monthly supply

House prices are getting higher and higher. Many people can only buy a house with a bank loan. How much do they have to pay for the house loan every month? How to calculate the monthly payment? Let's talk about the calculation method of monthly supply.

What's the monthly payment

1. In the equal principal and interest repayment method, at the initial stage of repayment, the interest expenditure is the largest and the principal is the least. Later, the interest payment is gradually reduced and the principal is gradually increased, but the amount of repayment (principal + interest) is the same every month. It is more suitable for young people with low income and little savings. Because of the low pressure of monthly payment, it will not reduce the quality of life. The formula is: monthly repayment amount = loan principal * monthly interest rate * (1 + monthly interest rate) ^ total repayment months / (1 + monthly interest rate) ^ total repayment months - 1).

2. Equal principal repayment method means that the loan principal is repaid in equal amount every month, the loan interest decreases month by month with the principal and interest, and the monthly repayment amount (principal + interest) decreases gradually. The total interest repaid is less than the equal principal and interest method. Suitable for middle-aged people with high income and certain savings. The formula is: monthly repayment amount = loan principal / total repayment months + (loan principal - accumulated repaid principal) * monthly interest rate.

Extended data:

Repayment method

At present, the repayment methods of mortgage loans in China include: one-time repayment with a loan term of 1 year, equal principal and interest or equal principal repayment with a loan term of more than 1 year.

Repayment of equal principal and interest: the monthly repayment amount is the same, but the principal part increases month by month, while the interest part decreases month by month. During the repayment period, the total interest expense paid is higher than the repayment method of equal principal.

Equal principal: the monthly repayment amount decreases month by month, in which the principal remains unchanged and the interest decreases month by month. During the repayment period, the total interest expense paid is lower than the equal principal and interest method, but the early repayment amount (including principal and interest) is higher than the equal principal and interest repayment method.