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How much interest is the most cost-effective way to repay a house loan of 400000 yuan

How much interest is the most cost-effective way to repay a house loan of 400000 yuan

How much is the interest on the house loan of 400000 yuan? Although this question seems simple, its answer is not fixed, because there are many ways of loan, and different loan methods will lead to different interest rates, so we must know how to calculate the interest, so that we can make a comparison. Do you want to know how to make the best repayment? Let's have a look.

How much is the interest on the house purchase loan of 400000 yuan

1. If it is the first time to buy a house, choose commercial loans to buy a house, take the family as a unit, you can borrow 70% of the assessed price of the house. If it is a provident fund loan to buy a house, take the family as the unit, if it is the first time to buy a house, you can borrow 80% of the assessed price of the house (within 90 square meters, over 90 square meters is 70%). The calculation method of down payment is: down payment = total house payment - customer loan amount. Loan amount = contract price (market price) & times; 80% (the first loan amount can reach 80%).

2. According to the existing implementation standard of the first suite, the down payment ratio of commercial loans for new houses is 30%, the down payment ratio of provident fund loans for the first suite with an area less than 90 M2 (including) shall not be less than 20%, and the down payment ratio of housing provident fund loans for the first suite with an area more than 90 M2 shall not be less than 30%. The loan of 400000 should be calculated according to the number of years of the loan, and you can calculate it according to the calculation method introduced in the above section.

The most cost-effective method of housing loan repayment

1. Equal principal repayment: this method is that the loan applicant pays the same principal every month, and the monthly interest will decrease with the decrease of principal amount. The principal and interest paid in the early stage are more, but the total interest required to be paid is relatively less, and the repayment burden decreases month by month. This kind of repayment method is suitable for the loan applicants who have sufficient funds on hand after the loan, and the requirements for early repayment ability are high.

2. Equal principal and interest repayment: This is the most mainstream repayment method at present. In this way, the amount of principal and interest will be different if the same amount is paid every month. The amount of principal paid in the early stage is greater than the amount of interest; the amount of interest paid in the later stage is greater than the amount of principal. This method of repayment is suitable for loan applicants with stable income, and it is convenient to arrange income and expenditure; its disadvantage is that the amount of interest returned is relatively large, the interest will not decrease with the decrease of principal, and the total interest of repayment is relatively high.

3. One time repayment of principal and interest: if the loan term is less than one year (including one year), one time repayment of principal and interest shall be implemented, and the interest shall be paid with the principal. This method of repayment is generally only open to small short-term loans. The applicability is not strong.

How much is the interest on the house purchase loan of 400000 yuan? How to repay the most cost-effective? You should know the answer to these two questions! Although there are many kinds of loan methods, among them, provident fund loan is more favorable, but it also has many restrictions. So if you want to make provident fund loan, you must go to the local bank to find out, so that you can know whether you are qualified for loan.