In response to the confusion of most people about the method of calculating the 500,000-equivalent interest-rate loan, the article led you into a little secret in the financial sector. Equivalent principal is calculated by simply allocating the principal and interest on the loan to each period, each of which is the same。

Five hundred thousand equal principal rates

The interest on the first period is derived by multiplying the total amount of the loan by the interest rate of the loan, and then you can receive the principal amount of the first period by subtracting the total amount to be repaid from the first period. The method is also simple in calculating interest for the second period. All you have to do is subtract the principal of the first repayment from the total amount of the loan, and you get the principal of the second, multiplied by the interest rate of the loan, so you can know the interest due for the second period. By that, you can calculate the principal and interest due for each period。

As for applications for mortgages, banks have a number of conditions that must be met. First, you need to have legal status and a local account when applying for a policy personal housing loan. Secondly, there must be stable work and income. Thirdly, you have the ability to repay your loans on time。

IN ADDITION, YOU NEED COLLATERAL OR A QUALIFIED GUARANTOR, AND YOU NEED A CONTRACT TO BUY A HOUSE. WHEN APPLYING FOR A LOAN, YOUR SAVINGS IN THE BANK CANNOT BE LESS THAN 301 TP3T OF THE AMOUNT OF THE HOUSE PURCHASE, AND IF YOU APPLY FOR A POLICY HOUSING LOAN, YOU MUST ALSO DEPOSIT A CERTAIN AMOUNT OF THE HOUSING FUND IN THE BANK. OTHER CONDITIONS ARE SET BY THE LOAN OFFICE。