1 thought on “What is the general mortgage loan interest rate?”
Luther
The benchmark interest rate for bank loans for more than five years is 6.14%. Housing mortgage loans are different from the interest rate of bank loans at the purchase of a house. This is their main difference. It, let's take an example below to calculate the interest you need to pay according to the interest rate of the house mortgage, so as to better understand it. If Xiao Li wants to mortgage the house with 200,000 loans, and return in five years, how to pay interest? According to the equivalent principal method, the benchmark interest rate is calculated. In the first month, 200000*6.14%/12 = 1023.33 yuan, which is the interest that should be paid in the first month, and pay the principal 200000/60 = 3333.33 yuan. The payment is 1023.33 3333.33 = 4356.67 yuan. Similarly, in the second month, the interest payment was 193333.33*6.14%/12 = 1006.28 yuan, and the principal equal was 3333.33. The principal and interest payment of the principal and interest in the second month was 1006.28 3333.33 = 4339.61 yuan.
The benchmark interest rate for bank loans for more than five years is 6.14%. Housing mortgage loans are different from the interest rate of bank loans at the purchase of a house. This is their main difference.
It, let's take an example below to calculate the interest you need to pay according to the interest rate of the house mortgage, so as to better understand it.
If Xiao Li wants to mortgage the house with 200,000 loans, and return in five years, how to pay interest? According to the equivalent principal method, the benchmark interest rate is calculated. In the first month, 200000*6.14%/12 = 1023.33 yuan, which is the interest that should be paid in the first month, and pay the principal 200000/60 = 3333.33 yuan. The payment is 1023.33 3333.33 = 4356.67 yuan.
Similarly, in the second month, the interest payment was 193333.33*6.14%/12 = 1006.28 yuan, and the principal equal was 3333.33. The principal and interest payment of the principal and interest in the second month was 1006.28 3333.33 = 4339.61 yuan.