HDB Question

[iam7377]

For example day 1 u pay up 300k loan and interest day 1 kick in 2.6% per year compound of 300k to accrued to cpf via cash proceed if u sell off.
So 1 yr $307500x2.6x2.6 so on n so for
Vs monthly payment accrued is lesser alot
End up u sold off u take more cash.

But if i got $100k in cpf for each my n spouse, i accumulate cpf interest growth every yr $100k x2.6%x2.6% each

This way i will gain gradually over the year to cover loan interest and so call earning...

Base to home insurance,if still got loan and touch wood 1 party left,the house is free and also cpf all can be withdrawal as cash by spouse

This is what i meant earlier

Oic, thanks for the explanation...I want faster clear coz of accrued CPF interest...

Not sure if sell off HDB will kena accrued interest since the CPF is currently locked up in the house...

 

[volarth]

The peace of mind to not have a mortgage over your head ... is priceless.

 

[gnoes85]

U never know the future. Faster pay finish without forking cash.

 

[AngelRomeo]

Should I fully pay up my BTO now or slowly pay it finish.

I left around 90K, but both wife and me have around 40K each in our CPF account.

Will keeping it in CPF earn more interest for me or clear finish my loans then slowly build up my CPF be better...

engage homeseller and sell your HDB at 1,999, condo at 4,999, landed at 9,999 then buy a smaller hdb loh

 

[iam7377]

engage homeseller and sell your HDB at 1,999, condo at 4,999, landed at 9,999 then buy a smaller hdb loh

Mine is BTO, prolly will upgrade...

 

[footi3]

slowly pay
if i mati hps will pay off the loan

 

[SayPorkGuy]

shouldn't chu maximize hdb loan and invest equivalent amt in cpf for higher interest?

 

[AcquiT]

Oic, thanks for the explanation...I want faster clear coz of accrued CPF interest...

Not sure if sell off HDB will kena accrued interest since the CPF is currently locked up in the house...

If wan clear faster is due to mortgage loan interest

If wan slowly clear is not worry about accrued interest

 

[kuti-kuti]

Should I fully pay up my BTO now or slowly pay it finish.

I left around 90K, but both wife and me have around 40K each in our CPF account.

Will keeping it in CPF earn more interest for me or clear finish my loans then slowly build up my CPF be better...

left 40k in cpf but still owe 90k.
u better not use yr 40k in case jobless....

 

[Roadster01]

Moi guess if loan repayment is more than 20 years, your hdb, or any property, may cost double by then, or at least close to that, depending on interest over that period?

 

[kuti-kuti]

shouldn't chu maximize hdb loan and invest equivalent amt in cpf for higher interest?

cpf interests is pathetic... hdb bank loans killers but ts only have 40k but owe hdb 90k. so obviously no choich but to continue owe. got to keep some money in cpf to finance monthly loans in case jobless no cpf contributions.

jobless u need $ in cpf to keep financing loans

 

[kuti-kuti]

If wan clear faster is due to mortgage loan interest

If wan slowly clear is not worry about accrued interest

alot of ppl worry about accrued interest in cpf housing loan but actually once u reached 55, with frs, the simi accrued interests will also go back to your own pocket when u sell yr house

 

[iam7377]

left 40k in cpf but still owe 90k.
u better not use yr 40k in case jobless....

Me and wife both have 40k each... Total is 80k...

 

[kuti-kuti]

Me and wife both have 40k each... Total is 80k...

then pay 40k, keep 40k in cpf. 40k isn;t much but can tide u over in case jobless

 

[AcquiT]

alot of ppl worry about accrued interest in cpf housing loan but actually once u reached 55, with frs, the simi accrued interests will also go back to your own pocket when u sell yr house

Problem is pple usually sell take profit first
In this case will wipe more on cash profit back to accrued interest before 55 if clear finish or big downpayment

 

[KnyghtRyder]

Sell.and buy

Then I would keep more money in CPF.. at least get the extra interest on the first 60k

 

[KnyghtRyder]

Oic, thanks for the explanation...I want faster clear coz of accrued CPF interest...

Not sure if sell off HDB will kena accrued interest since the CPF is currently locked up in the house...

Don't hate accrued interest.. accrued interest is good.. all that accrued interest will be paid back when you sell. And you can leverage more CPF for your next property..

Love accrued interest.

 

[KnyghtRyder]

The peace of mind to not have a mortgage over your head ... is priceless.

But in this case TS wants to upgrade . So either way he or she is going to have a new mortgage.

 

[AnTzX_]

Jiayou Jiayou, after that lei? Upgrading or?

wanna up 5rm... but abit tough... cos i wanna get chencharu but it seems like alot 2nd timers fighting... juz recently submitted for 2nd try... if not den will be stuck at current place lo...

 

[iam7377]

wanna up 5rm... but abit tough... cos i wanna get chencharu but it seems like alot 2nd timers fighting... juz recently submitted for 2nd try... if not den will be stuck at current place lo...

2nd timer chance drop drastically...