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$305,000 BANK LOAN ON HDB, SHOULD HE PAY PENALTY AND THE LOAN OFF?
Description
Question : Pay off mortgage loan OR NOT?
Background
- Male aged above 55
- His bank mortgage loan is on floating rate and has spiked from 1% plus to 4% plus.
- Has enough in CPFOA to pay off the loan together with wife
- However, they are still in lock in period and face a penalty
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👏 Soon Min also shares with you on his recent home purchase
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0:00 Introduction
0:40 New home
2:00 How to budget for home
6:20 $0 in renovation?
9:46 Biggest regrets and proudest aspects
12:56 Repay $305k or not
17:00 Bank vs hdb loan
18:46 CPFSA shielding
23:00 Accrued interest
27:47 Why pay penalty
32:40 Cash to buy deposits?
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#homeloan #bankloan #property #hdb