HOusing Loans anyone?
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housing loans...
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dont buy a property unless really necessary. dont take a loan unless you have no choice.
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dont buy a property unless really necessary. dont take a loan unless you have no choice.
Usually just to buy a HDB flat we dun have so much cash or even CPF especially we aiming for 5 room or Executive Apartment. I paid 13 installments already but only half is paying the loan while the other half is for interest!!!!!!
CPF charge 2.6% I already cannot take it I can't imagine borrow from bank what will be the interest rate 3 yrs down the road since for them it flunctuate whereas CPF is pretty much fixed
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Welcome to the club.Originally posted by sohguanh:Usually just to buy a HDB flat we dun have so much cash or even CPF especially we aiming for 5 room or Executive Apartment. I paid 13 installments already but only half is paying the loan while the other half is for interest!!!!!!
CPF charge 2.6% I already cannot take it I can't imagine borrow from bank what will be the interest rate 3 yrs down the road since for them it flunctuate whereas CPF is pretty much fixed 
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this one everybody knows...but not everyone has the ability to follow.Originally posted by dragg:dont buy a property unless really necessary. dont take a loan unless you have no choice.
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Welcome to the club.
So you paying how many years loan? Me opt for 30 years but then if after 5 years got some CPF money offset one lump sum to reduce the term to say 20 - 25 years. Maybe if I strike TOTO 10 million hahaha all pay up in one lump sum
Our gahmen really know how to make money. One HDB flat and then next you know you gotta work extra hard in spore to pay the loan. Now I hope when I can be debt free. -
actually 20 yrs is the best option.
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actually 20 yrs is the best option.
Who dun wanna pay up faster? It is becuz after minus initial payment they calculate how much each month need fork out then discover if pay a lot each month wait retrench how? So opt for slightly lower payment each month lor so in the end become 30 years.
My house cost me 300K after count all those admin and all those extra fees
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Originally posted by sohguanh:
it is not just about the money. otherwise i would have said 10 yrs is the best option.
[b]actually 20 yrs is the best option.
Who dun wanna pay up faster? It is becuz after minus initial payment they calculate how much each month need fork out then discover if pay a lot each month wait retrench how? So opt for slightly lower payment each month lor so in the end become 30 years.
My house cost me 300K after count all those admin and all those extra fees [/b] -
it is not just about the money. otherwise i would have said 10 yrs is the best option.
Is it? Then kindly share why you say 20 years is the optimal repayment loan period and not other years leh?