The mortgage calculator is an app that calculates mortgages with one click. I believe many people don’t know how the mortgage calculator calculates. If you need it, you can inquire about the latest interest rate details of the mortgage calculator in 2023!
Mortgage Calculator Latest 2023 Interest Rate Details
To buy a house with a loan in 2023, whether it is a provident fund loan to buy a house, a commercial loan to buy a house, or a combination of the two to buy a house, the first choice for calculating the monthly mortgage payment is the "Mortgage Calculator 2023" developed by the Mortgage Calculator. The home loan calculator is used by people more than one million times a day to calculate and consult home loans online. It basically covers home loan prepayment calculators, provident fund loan calculators, commercial loan calculators, etc.
List of central bank commercial loan benchmark interest rates (LPR) in 2023:
1-year term, interest rate is 3.65%
Over 5 years, the interest rate is 4.30%
List of commercial loan benchmark interest rate data in 2023:
Within 1 year (including 1 year), the annual interest rate is 4.35%
From 1 year to 5 years (including 5 years), the annual interest rate is 4.75%
For more than 5 years, the annual interest rate is 4.90%
List of housing provident fund personal housing loan interest rate data in 2023:
For less than 5 years (including 5 years), the annual interest rate for the first house is 2.759, and the annual interest rate for the second house is 3.025%
For more than 5 years, the annual interest rate for the first home is 3.25%, and the annual interest rate for the second home is 3.575%.
hint:
1. The final monthly repayment refers to the final payment amount of the loan.
2. The monthly repayment amount of equal principal and interest is the same.
3. The monthly repayment amount for equal principal amounts is different, and the monthly repayment amount decreases by a certain amount.
4. Interest savings refers to the total interest difference between the equal principal and interest repayment method and the equal principal repayment method under the same conditions.
How to calculate the interest rate for a second home loan?
1. Calculate interest by multiplying the accumulated points by the daily interest rate. The interest accrual formula is: interest = daily interest rate for accumulated interest accrued points, where accumulated interest accrued points = total daily balance.
2. The transaction-by-transaction interest calculation method calculates interest on a transaction-by-transaction basis according to the predetermined interest calculation formula interest = principal interest rate during the loan period. There are three specific methods:
① If the interest calculation period is a whole year (month), the interest calculation formula is: interest = principal & times; year (month) years (month) interest rate;
② If the interest accrual period has a full year (month) and fractional days, the interest calculation formula is: interest = principal year (month) years (months) interest rate + principal fractional day interest rate;
③At the same time, the bank can choose to convert all interest calculation periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar in that month. The interest calculation formula is: interest = actual number of days of principal, daily interest rate
3. These three calculation formulas are essentially the same. However, since only 360 days are used in a year in interest rate conversion, but in actual calculation based on daily interest rates, 365 days are used in a year, and the results obtained will be slightly biased. Which formula is used to calculate the specific formula? The central bank has given financial institutions the right to choose independently. Therefore, the parties and the financial institution can agree on this in the contract.
Okay, that’s it for today’s software tutorial. Thank you for your support. If you have any questions, you can leave us a message and we will give you specific solutions!