With the development of social economy, more and more people choose to buy a house with a loan. The most concerned problem is the mortgage interest rate. After all, a small change has a great impact on the cost of housing loan. Today, we will introduce how to calculate the interest rate of housing loan if we buy a house in 2019?
1、 Benchmark interest rate of housing loan in 2019
According to the latest news released by the central bank, the interest rate standard is as follows:
Within one year (including one year) 4.35%
Medium and long term loans
1-5 years (including 5 years) 4.75%
More than five years 4.90%
Personal Housing Accumulation Fund Loan
2.75% below five years
More than five years 3.25%
Due to different housing prices and policies in different regions, many regions have made corresponding adjustments to their own situation, such as formulating restrictions on purchase and floating loan interest rates. From the current point of view, banks have risen by 20% - 30%, and some private banks' loan interest rates have also risen by 10% - 20%. It is necessary to consult banks for details.
2、 How to calculate the interest of house loan in 2019?
1. Equal principal and interest method: calculation formula
Monthly repayment amount = principal * monthly interest rate * [(1 + monthly interest rate) ^ n / [(1 + monthly interest rate) ^ n-1]
Where n is the number of loan months and ^ n is the nth power. For example, ^ 240 is the 240th power (loan for 20 years and 240 months)
Monthly interest rate = annual interest rate / 12
Total interest = monthly payment * loan months - Principal
2. Equal principal method: calculation formula
Monthly repayment amount = principal / N + remaining principal * monthly interest rate
Total interest = principal * monthly interest rate * (loan months / 2 + 0.5)
When you sign a housing loan contract, you can choose the appropriate repayment method according to your own situation. The equal principal is suitable for borrowers who have a certain economic foundation, can bear the early repayment pressure, and have an early repayment plan. The method of equal principal and interest repayment is convenient to arrange income and expenditure because it repays the same amount every month. It is suitable for economic conditions and does not allow borrowers who invest too much in early repayment and whose income is in a relatively stable state.