Pick your repayment options help you save hundreds of thousands of!
where the majority of the loan to buy a House for a family, in the loan process to achieve maximum possible income are common aspirations. Factors determining the level of interest on loans outside in addition to bank lending rates, payment mode is also a big key. After calculation, as long as buyers selected repayment options, you can save hundreds of thousands of interest expenditure!
now common payments in two ways: the periodic repayments and equal principal repayment.
called equal interest, and refers to the total amount of principal and interest on mortgage loans the total sum and then apportioned to the repayments each month on average, monthly payments are fixed, but the proportion of monthly payment for principal monthly increases, interest share of monthly declines. This method is by far the most common, is the way most banks have long recommended.
so-called equal principal refers to the lender will be assessed to each month in principal and interest paid every month. Therefore, diminishing monthly payments each month, so the early repayment pressure.