How much is the down payment of 400,000 for a 1.2 million house?

If you take out a loan through China Merchants Bank, the specific monthly payment also depends on your loan execution interest rate, repayment method, etc., which can be calculated through the official website of China Merchants Bank or mobile banking, and the trial calculation results are for reference only.

Mobile Banking: Log in to Mobile Banking, click My - All - Assistant - Financial Calculator - Loan Calculator;

China Merchants Bank Homepage: Home MiddleFinancial Instruments - Personal Loan Calculator.

Enter information such as the loan amount, annual interest rate, loan term, and repayment method selected, and try to calculate the monthly loan payment amount and interest.

In general, the first home.

The down payment is generally about 3 percent, which means that the down payment for a house of 1.2 million is at least 400,000. If the current 30-year repayment ratio is calculated, all the loans and interest are added up and divided into 360 months equally, then the monthly payment per month is about 5,337 yuan. Of course, the specific calculation is subject to the bank's calculation.

According to the data, a mortgage loan means that the property purchased by an individual has a house ownership certificate.

When you can trade a housing or commercial property in the market, you pay a certain percentage of the down payment yourself, and the rest is used as collateral for the property you want to buy, and apply for a loan from a cooperative institution.

Extended Information: Eligibility for a Home Loan:

Buying a house is a large consumption, so many people will choose to apply for a home loan when buying a house.

1. Application conditions for housing loans.

1.Applicants need to have a legal residence status and have a permanent residence or residence status certificate for urban residents, so it is best to buy a house where your household registration is located.

Or now live in a house in the city.

2.You must be at least 18 years old.

3.Applicants must have a legal and regular job occupation and a stable income** so that the lender can ensure that you have the ability to repay the principal and interest of the loan on time.

4.You need to have signed a "House Sale and Purchase Agreement" and have paid the down payment ratio stipulated by the bank.

5.The applicant should have good credit.

2. Application materials for housing loans.

1.Applicants should prepare their own proof of identity, that is, a valid identity document;

2.You must prepare your own proof of residence, such as a household registration book or a valid residence certificate;

3.Be prepared with proof of your employment.

and proof of income;

4.Prepare your own "Housing Sales Contract" and related documents;

5.Have proof of your marital status ready.

If you are married, you need to bring a marriage certificate.

If you are unmarried or divorced, you need to prepare a single certificate.

Down payment for buying a house: Depending on the type of house you are buying and the loan you are applying for, the down payment is different

1. Buy a down payment for your first home**.

If you are buying your first home and applying for a provident fund loan, the down payment** for your first home will be divided according to the size of the house: the down payment for the first home below 90 square meters (inclusive) is generally not less than 20; The down payment for the first home of more than 90 square meters is generally not less than 30.

If you are applying for a business loan.

And if the first house is a new house, the down payment is generally 3% of the total price of the house. If the first home is a second-hand house, the down payment will generally be 3% of the loan appraisal price.

2. Buy a second house down payment**.

If you are buying a second home and applying for a CPF loan, the down payment for the second home should generally not be less than 50. However, it should be noted that only when the area of the first house is less than 120 square meters (inclusive) can you apply for a housing provident fund loan.

Purchase of a second home.

If you apply for a commercial loan, the down payment for the second house is generally about 6% of the total price of the house.

Of course, there may be differences in loan policies and housing purchase policies in different places, so please refer to the local official information.

Assuming the loan term is 30 years and the interest rate is 4%, then the monthly payment is calculated as follows:

Monthly Instalment = (Loan Amount Monthly Interest Rate) (1 - 1 + Monthly Interest Rate) to the power of the debt term).

First, calculate the loan amount: loan amount = 1.2 million - 400,000 = 800,000.

Then calculate the monthly interest rate: monthly interest rate = annual interest rate 12 months = 4% 12 =

Next, calculate the monthly payment:

Monthly payment = (800,000 (1 - 1 + (30 12) power) 3,804 yuan.

Summary. If you borrow for 20 years, if you choose a commercial loan, you will pay 5,235 yuan per month If you choose a provident fund loan, the monthly payment is 4,537 yuan, which still depends on how many years you have chosen to repay the loan and which bank you have chosen.

If you borrow for 20 years, if you choose a commercial loan, you will pay 5,235 yuan per month If you choose a provident fund loan, the monthly payment is 4,537 yuan, which still depends on how many years you have chosen to repay the loan and which bank you have chosen.

Assuming the loan term is 30 years and the interest rate is 4%, then the monthly payment is calculated as follows:

Monthly Instalment = (Loan Amount Monthly Interest Rate) (1 - 1 + Monthly Interest Rate) to the power of the debt term).

First, calculate the loan amount: loan amount = 1.2 million - 400,000 = 800,000.

Then calculate the monthly interest rate: monthly interest rate = annual interest rate 12 months = 4% 12 =

Next, calculate the monthly payment:

Monthly payment = (800,000 (1 - 1 + (30 12) power) 3,804 yuan.

Hello, <>

Suppose the total price of the house you buy is $1.2 million and the down payment is $400,000, then the loan amount is $800,000 ($1,200,000 - $400,000). Assuming a loan term of 30 years, the monthly interest rate is calculated based on the current commercial loan interest rate (May 2023) approximately. According to the equal principal and interest repayment method, the monthly repayment amount is:

Loan Principal Monthly Interest Rate 1 + Monthly Interest Rate) Number of Repayment Months) 1 + Monthly Interest Rate) Number of Repayment Months - 1) Substituting the data into the formula, the monthly repayment amount is about 4,139 yuan. Please note that this is only a rough estimate and the actual repayment amount may vary due to various factors, such as loan interest rate, repayment period, repayment method, etc.

Summary. Hello dear! We'll be happy to answer for you.

The amount of a 30-year CPF loan is determined based on a variety of factors, including the balance of your CPF account, the housing prices in your city, your monthly income, the repayment period, etc. Under normal circumstances, the upper limit of the CPF loan amount is determined based on your CPF account balance, monthly income and other factors, and the maximum amount can reach about 8 times of your CPF account balance, and the specific amount needs to be calculated according to your actual situation. In addition, according to the regulations, the repayment period of a CPF loan is up to 30 years, but the actual repayment period can be determined according to your personal circumstances.

How much can I borrow from my CPF for 30 years?

14 years or so house.

Hello dear! We'll be happy to answer for you. The size of a 30-year CPF loan is determined based on a number of factors, including the balance of your CPF account, the housing prices in your city, your monthly income, the repayment period, etc.

Under normal circumstances, the upper limit of the provident fund loan is determined comprehensively according to your provident fund account balance, monthly income and other factors, and the maximum amount can reach about 8 times the balance of your provident fund balance account, and the specific amount needs to be calculated according to your actual situation. In addition, according to the regulations, the repayment period of a CPF loan is up to 30 years, but the actual repayment period can be determined according to your personal circumstances. <>

Assuming that the total price of the house is 1.2 million, the down payment is 400,000 yuan, the loan is 800,000 yuan, the loan term is 20 years, and the interest rate is the current commercial loan interest rate), the monthly repayment amount is about 5,312 yuan. <>

How much can I borrow from my personal provident fund?

The amount of a CPF loan is determined by a variety of factors such as your CPF account balance, monthly income, and loan tenure. According to Genwu Laozao, the maximum amount of a personal provident fund loan is 8 times the balance of your provident fund account.

The city is in Shenyang.

According to the regulations, the maximum amount of a CPF loan is 8 times the balance of your CPF account. It depends on how much your CPF balance is.

Legal basis: According to Article 32 of the Regulations on the Administration of Housing Provident Fund, which stipulates the calculation method and upper limit of the loan amount of individual housing provident fund. Specifically, the provisions of this article are as follows:

Article 32 The calculation method of the loan amount of the personal housing provident fund is as follows: (1) The loan amount shall be determined according to a certain proportion of the balance of the personal housing provident fund account. (2) During the term of the loan, the monthly repayment amount shall not exceed 50% of the borrower's monthly income.

3) The maximum amount of personal housing provident fund loans is capped at eight times the balance of the borrower's provident fund account. <>