Dear, hello, paying off the mortgage in advance at one time can save more loan interest under certain circumstances, but if you choose the wrong time. Paying off the mortgage in advance in the wrong way will not only save the mortgage interest, but also cause losses. You might as well be prepared to repay the mortgage in advance. First calculate the interest of paying off the mortgage in advance at one time.
The interest calculation formula of mortgage prepayment is: remaining loan principal × [(prepayment date-days of last deduction date) ]× daily interest rate (daily interest rate = annual interest rate ÷360). Among them, the number of days is calculated by counting the head and not counting the tail or counting the tail. The interest of one-time mortgage settlement is usually equal to the remaining principal plus interest. Let's assume that the mortgage is paid off 200,000 yuan in advance at an annual interest rate of 6. 15%, the last deduction time is 65438+February 8, and the prepayment date is 65438+February 10. Then, prepayment interest = 200,000× 2× 0.017% = 68 yuan.
Concrete calculation example: prepayment is the principal. If you borrow 0.2 million/200 thousand and pay it back in five years, you want to pay it off at one time. Pay off the remaining principal at one time. It is not accurate to say that interest should be paid at the beginning. According to relevant calculations, due to the large initial principal, the interest station accounts for a large proportion in the monthly repayment. But not just interest.
The loan is 200,000 yuan, 10 year, 10 year, and the repayment is calculated as follows: 10 million loan, 10 year (calculated at the latest interest rate of 5.9%): the total loan is 200,000 yuan.
I borrowed 700,000 yuan, which has been paid back for one year. I want to repay 200 thousand in advance. Is it cost-effective to reduce the number of years or reduce the monthly supply?
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First, the repayment method of average capital: suitable for high-income people. With the repayment of equal principal, the borrower's burden gradually decreases with the increase of repayment period. This repayment method distributes the principal to each month and pays off the interest between the last repayment date and the current repayment date. Under the same conditions, the total interest paid by this repayment method is less than the equal principal and interest, and the repayment burden will be gradually reduced with the passage of time. However, because the interest rate is decreasing, the monthly payment will be higher than the equal principal and interest in previous years, which is very stressful. Therefore, this repayment method is more suitable for people with high income and low repayment pressure.
Second, the equal principal and interest repayment method: suitable for people with stable income. Matching the principal and interest is to add up the total principal and interest of the mortgage loan and then share it equally every month during the repayment period. As a repayment, he pays a fixed amount to the bank every month, but the proportion of principal in the monthly repayment increases month by month, and the proportion of interest decreases month by month. It can be seen that families with stable income and economic conditions do not allow excessive investment in the early stage can choose this method.
3. One-time repayment of principal and interest: paying interest quarterly and monthly, which is suitable for people engaged in business activities. One-time repayment of principal and interest refers to the repayment method of repaying all the loan interest and principal at one time on the loan maturity date. For small businesses or individual operators, it can reduce the repayment pressure.
Four. Biweekly repayment method: Biweekly repayment shortens the repayment period and is higher than the original monthly repayment frequency. In this way, the principal of the loan will be reduced faster, which means that the loan interest returned during the whole repayment period will be far less than the loan interest returned during the monthly repayment period, and the reduction rate of the principal will also be accelerated. Therefore, the repayment period is shortened and the total expenditure of the borrower is saved. For people with stable jobs and incomes, it is very appropriate to choose biweekly payment.
Verb (abbreviation of verb): When applying for portfolio loan to buy a house, on the one hand, make full use of the provident fund loan, extend the loan period as much as possible, and minimize the monthly repayment amount of the provident fund while enjoying the benefits of low interest rate; Try to shorten the life of commercial loans and increase the monthly repayment amount of commercial loans as much as possible within the family's economic affordability. After the provident fund account is used to offset the monthly payment of the provident fund, the balance can be used to offset commercial loans, thus saving considerable interest.
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How much interest does it save to repay 200,000 yuan in advance?
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How much interest does it save to repay 200,000 yuan in advance?
Finance Mu Yi teacher
Financial talents
The interest calculation formula of mortgage prepayment is: remaining loan principal × [(prepayment date-days of last deduction date) ]× daily interest rate (daily interest rate = annual interest rate ÷360). Among them, the number of days is calculated by counting the head and not counting the tail or counting the tail. The interest of one-time mortgage settlement is usually equal to the remaining principal plus interest.
2022-06- 15
Number of service personnel 2 1 18 1
How much interest does it save to repay 200,000 yuan in advance?
Financial tutor Han Zifei
financial affairs
Financial talents
Dear, housing loan, also known as housing mortgage loan, is the documents that the buyer must submit according to legal documents, such as filling out the application form for housing mortgage loan to the loan bank and providing ID card, income certificate, housing sales contract and guarantee. After passing the examination, the loan bank promises the loan to the buyer, and handles the real estate mortgage registration and notarization according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly allocates loan funds within the time limit stipulated in the contract.
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360 IOUs-the maximum amount is 200,000, the interest and expenses are transparent, and the loan is fast!
360 IOU _ Apply online with the mobile phone number of ID card, and the annualized comprehensive interest rate starts from 7.2%. Users with college education or credit cards may get a higher amount!
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How much interest does it save to repay 200,000 yuan in advance?
Satisfied pjp
Financial talents
1. The interest calculation formula of mortgage prepayment is: remaining loan principal × [(prepayment date-days of last deduction date) ]× daily interest rate (daily interest rate = annual interest rate ÷360). Among them, the number of days is calculated by counting the head and not counting the tail or counting the tail. The interest of one-time mortgage settlement is usually equal to the remaining principal plus interest. Let's assume that the mortgage is paid off 200,000 yuan in advance at an annual interest rate of 6. 15%, the last deduction time is 65438+February 8, and the prepayment date is 65438+February 10. Then, prepayment interest = 200,000× 2× 0.017% = 68 yuan.
2022-06- 1 1
Number of service personnel 28 153
How much interest will be reduced by repaying the mortgage in advance?
Teacher Hao of Financial Law
Yang Zixuan analyst of Shaanxi Securities Co., Ltd.
Financial talents
Monthly payment 1555. After four years of repayment, the principal is still 279,468 and10000,269,468. 26 years, monthly payment 1500, interest reduction 14000.
2022-06- 18
Number of people served 23824
I have a mortgage of 200,000 yuan, and I want to pay back 65,438+million yuan in advance. Is it okay? How can I repay the future?
Financial consulting Lao Lu
businessperson
New responder
Can the mortgage of 200,000 yuan be repaid in advance to 654.38+million yuan in the future or the previous price? Although your mortgage is 200,000 yuan, it is ok to pay back 65,438+10,000 yuan in advance. You can pay off all the money at once, and it is also possible.
2022- 10- 15
The number of people served is 3230.
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