With the continuous rise of housing prices, many families can only purchase houses through loans.
When everyone in the bank successfully for a loan, then certainly must begin to repay the bank’s loan.
But some people don’t know how to pay them back.
Let’s take a look at how to pay back a loan and what are the advantages of a loan to buy a house.
01
How is the loan more appropriate?
- Re-mortgage
Turn the repayment method of mortgage, it is to point to by new loan bank to help the customer look for guarantee company, return the money of original loan bank, deal with loan in new loan bank afresh next.
If your current bank can’t give you a 30% discount on your mortgage, it’s a good idea to jump ship and find the best deal.
- Pranayama on a monthly basis
The repayment method that adjusts interest rate by month, because the fixed interest rate rolls out fashion is in the interest rate rise channel, so in the design is slightly higher than the same period floating interest rate, as long as the central bank adds interest, its advantage appears immediately.
But once rates are cut, buyers who choose them will suffer.
- equal principal repayment method
Law of repayment of equal forehead principal can increase as borrower repay loan year, reduce repayment burden gradually.
This repayment is to spread the principal over each month and pay off the interest between the previous payment date and the current payment date.
As time elapse, repayment burden can reduce gradually, but as a result of interest is degressive, because this begins a few months offer amount to want to compare equal forehead principal and interest tall, pressure can be bigger.
Therefore, this kind of repayment method is more appropriate for people with high income and little repayment pressure.
- Equivalent principal and interest repayment method
Equal amount principal and interest is to point to, add the total amount of the principal that mortgage loans and interest, apportion to repayment time limit on average next every month.
As repayment person, return a bank every month fixed amount, but every month the proportion of the principal in repayment amount increases month by month, interest proportion decreases month by month.
Visible for stable income, economic conditions do not allow the early investment of too large families can choose this way.
What are the advantages of house loan:
1.Spend tomorrow’s money round today’s dream
Mortgage is a loan, that is, to borrow money from the bank, buy a house without immediately spend a lot of money can buy their own house, so the first advantage of mortgage to buy a house is less money can also buy a house.
- Invest your limited funds in multiple investments
Say from investment Angle, do mortgage house buyer to be able to separate capital investment, loan buys a house to rent, in order to hire raise loan, reinvest next, such capital is used nimbly.
- The bank will keep watch for you
Do loan is to borrow money from the bank, so the bad or bad bank of house property project is naturally concerned about, the bank besides examining you outside itself, still can examine development business for you, check for you, natural insurance sex is high.
When dealing with a bank loan, it is very important to choose your repayment method.
Now the main repayment means after the house buyer deals with loan in the bank has two kinds, one kind is equal to the principal and interest of the forehead, one kind is equal to the principal.
Although the interest of equal amount principal is a few less, but the month of every month offers high, pressure is bigger.
The total interest of equal forehead principal and interest is met a few higher, but the repayment pressure of every month is small.
You can consider your own situation to choose the right way of repayment.
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