Onlinehomeloancalculator,onlinequeryfordetailedmonthlypaymentdetailsofequalprincipalandequalinterestforpersonalcommercialloans
1.Earlyrepayment:Ifyouwanttorepayearly,selectthecorrespondingstartingyear.Ifyoudonotwanttorepayearly,youdonotneedtoselectit.
2.Loanterm:selectthenumberofyearsfortheloan.
3.Totalloanamount:Theunitistenthousand.Pleasedirectlyentertheloanamount.
4.Annualinterestrate:Ifnotselected,thedefaultisthebaseinterestrateof0.049;youcanchoosefloatingordiscountmultiples.
5.Customization:Ifthereisaspecificloaninterestrateinyourloancontract,youcandirectlyentertheinterestrateandexpressitindecimals.
6.Therearetwoformsofqueryresults,equalprincipalandequalprincipalandinterest.Theoneinwhichtherepaymentdecreasesastheamountispaidisequalprincipal,andtheoneinwhichtherepaymentisfixedisequalprincipalandinterest.
Equalprincipalandinterest:
monthlypayment=[Loanprincipalxmonthlyinterestratex(1+monthlyinterestrate)^numberofrepaymentmonths]÷[(1+monthlyinterestrate)^numberofrepaymentmonths-1];
interest=Loanprincipalxmonthlyinterestratex[(1+monthlyinterestrate)^numberofrepaymentmonths-(1+monthlyinterestrate)^(repaymentmonthserialnumber-1)]÷[(1+monthlyinterestrate)^numberofrepaymentmonths-1];
principal=Loanprincipalmultipliedbymonthlyinterestratemultipliedby(1+monthlyinterestrate)^(repaymentmonthnumber-1)÷[(1+monthlyinterestrate)^repaymentmonths-1];
Equalprincipalamount:
Thetotalprincipalandinterestofthemortgageloanareaddedtogetherandthenevenlydistributedovereachmonthoftherepaymentperiod.Astheborrower,yourepayafixedamounttothebankeachmonth,buttheproportionofprincipalinthemonthlyrepaymentgraduallyincreaseswhiletheproportionofinterestgraduallydecreases.
Theprincipalisdistributedovereachmonth,andtheinterestfromtheprevioustransactiondatetothecurrentrepaymentdateispaidoffatthesametime.Comparedtoequalprincipalandinterestrepayment,thisrepaymentmethodresultsinlowertotalinterestexpenses,buttheinitialpaymentsofprincipalandinterestarehigher,andtherepaymentburdengraduallydecreaseseachmonth.
Acombinedhomeloanreferstoasituationwhereaborrowerwhomeetstheconditionsforapersonalcommercialhousingloanandhascontributedtotheirhousingprovidentfundcansimultaneouslyapplyforapersonalhousingprovidentfundloanandapersonalcommercialhousingloan.Thesetwoloanmethodsusethepurchasedurbanself-occupiedhousing(orotherguaranteemethodsapprovedbythebank)ascollateral,andareissuedseparatelybythehousingfundmanagementdepartmentandthecommercialbank.
Ahousingprovidentfundloan,alsoknownasapersonalhousingprovidentloan,referstoamortgageloanissuedbyvarioushousingprovidentfundmanagementcentersusingthehousingprovidentfundcontributedbyemployeesandtheiremployers,andentrustedtocommercialbankstobeissuedtoin-serviceemployeeswhohavecontributedtothehousingprovidentfundandretiredemployeeswhocontributedtothehousingprovidentfundduringtheiremployment.