Refinance HDB Loan - Advice pls

[chopra]

CPF interest rate is calculated monthly and there is no commission charge.
There is indeed a mistake in the calculation. I did not add the final year interest to the final amount.

But, the above example is using simple yearly calculation. For more accurate calculation, monthly interest rate computation will have to be used.
If monthly interest rate is used,
The first couple ends up with $435789.18
The second couple ends up with 439518.8516
The difference is only $3729.

But, the most accurate scenario is to split the CPF contribution amount into 2, monthly loan amount into 2 and take into account of the 3.5% interest rate for the 1st $20,000.

The first couple will end up with $225240.4628 each or a total of $450480.9256.

The second couple will end up with $222920.4546 or a total of $445840.9091.

So, strangely speaking, if the 3.5% interest rate for 1st $20000 remains, the one who takes the longest loan period will end with more money.

http://www.yousendit.com/download/QlVnck93UzhsamNLSk1UQw?cid=tx-02002207340200000000&s=19102

still wrong. Cell B181 is 1201.02, not 2014.52.
Cell A181 dun need add 814 as well..

 

[danielkwok]

payday laon

Affordability depends on key pieces of personal financial circumstances and market conditions.

 

[Perisher]

Hello Everyone. I am a PR in Sg. I need help and advice. I was on staff loan rate for at least 3 year now for bank loan mortgage. But I resigned last June.before I resign I ask them via email if "there are any charges that we should be aware of" since the mortgage will need to undergo "Repricing" as I am resigning. I spoke to 3 persons from that same mortgage department via email and phone asking the same thing,all replied about the conversion fee as per latest email around mid-April 2015. Lately upon after almost 3 weeks of submitting reprice application, I called the person in charge of our account to follow up on repricing application.He told me that there was something wrong with our application.

To my surprise,he told me on that phone conversation that we need to shell out around 55 thou sgd. I told him that we need the info in writing and why only now that they are telling me that i need to top up 55thousgd. 3 mos after i resigned.
How to resolve this, as I have been pointing this out in our previous emails before I resign if there is any cash out that I need to pay and fees or any cash out we should be aware of. Because I want to know what will happen before I resign and if I will continue resigning. because of there is any cash outlay like 55thou then I wont be resigning yet.

Dude, you have a thread on this topic yup? If not just stick to 1 thread and bump it daily on that thread, don't spam across several thread.

 

[Carlisky]

Dude, you have a thread on this topic yup? If not just stick to 1 thread and bump it daily on that thread, don't spam across several thread.

Hi perisher,thanks for highlighting. i thought different threads should have different entries and not all people can read it there? as there are different participants in each thread? kindly clarify

 

[Perisher]

Hi perisher,thanks for highlighting. i thought different threads should have different entries and not all people can read it there? as there are different participants in each thread? kindly clarify

You are asking the same thing over mutiple threads, stick to one thread and if someone is willing to answer, they will. The other threads would not be seen if you did not pull them up.

If you like, you can start a thread about this and I will pull all your post and their replies to your question into your thread.

 

[Carlisky]

You are asking the same thing over mutiple threads, stick to one thread and if someone is willing to answer, they will. The other threads would not be seen if you did not pull them up.

If you like, you can start a thread about this and I will pull all your post and their replies to your question into your thread.

Hi Perisher this is noted. will do. thanks for guiding a firstvtimer like me. really appreciate it.