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Mortgage how to select a payment method

mortgage loans have different loans, but also payments have different repayment methods. When homeowners apply for a mortgage, you need to determine the method of repayment, choosing the right mortgage, you can actually save a lot of money. How to bank loan is the most money? nine kinds of mortgage repayment loan consultants today to explain and provide guidance for those who are still undecided repayment of people.

1, phased repayment youth

as young people, University students just to work, financial constraints at hand, this allows the customer 3-5-year repayment grace period, repayment as long as hundreds of Yuan per month, over 5 years, as incomes enhance the economic base and strengthen, repayments will increase into the normal repayment.

2, equal principal repayment method suitable for high income people

equal principal repayment, reduce the burden on borrowers with repayment year increases. This method of payment is to divide the principal each month and pay the last payment date to the day of the repayment of that interest. This repayment in the total interest paid under the same conditions less than equal interest, over time, repayment burden will have to be gradually reduced, but due to declining interest, began several years of monthly payments higher amounts than equal interest, pressure will be very big, so this repayment method for high income and repayment pressure of population is appropriate.

3, method of equal repayments for a steady income people

matching refers to principal and interest, total interest and the total principal amount of the mortgage loan together, then in equal shares to the repayments each month. People as repayment, to Bank a fixed amount every month, but the proportion of monthly payment for principal monthly increases, interest share of monthly declines. Visible for steady income, economic conditions don't allow too much initial investment families can choose this way.

4, quarterly monthly interest only a one-time repayment method suitable for business people

a one-time repayment, refers to the loan maturity date one-time method of repayment of the loan interest and principal repayments. For a small enterprise or individual operators, can ease repayment pressure.

5, mortgage loans

refinance mortgage is a new loan banks help customers find security companies, to pay off the original loan money in the Bank, and then again in a new lender for the loan. If the Bank cannot give you 70 percent of your current mortgage interest rate concessions, they can mortgage job, looking for the most affordable Bank. Due to fierce competition, some banks are quite happy to help you.

6, monthly breathe

under the present trend of interest rate cuts, people are used to select the mortgage fixed rate, then quickly converted into floating rate deal. However, the "fixed" to "floating" need to pay a certain amount of liquidated damages.


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