Mortgage debt

[culture_counter]

Is a hdb mortgage debt of $60k balance considered a lot?
Need to clear or just treat it as rental and pay slowly?

 

[Mecisteus]

I remember you had a HDB loan thread before.

What had you learn from the long discussion?

 

[culture_counter]

I remember you had a HDB loan thread before.

What had you learn from the long discussion?

Situation updates are needed.
Opinions can change with time.

 

[make_a_cake]

interest will be calculated for all outstanding

 

[SBC]

V manageable amount.

My outstanding is > 10 times of yours.

 

[culture_counter]

V manageable amount.

My outstanding is > 10 times of yours.

Manageable, so treat it as rental monthly payment and don't pay lump sum. Leverage using CPF oa 2.5% interest to offset HDB 2.6% interest.

 

[starfish.starfish]

Amt so low. I will just pay it off and feel good about being debt free.
YMMV.

 

[culture_counter]

Amt so low. I will just pay it off and feel good about being debt free.
YMMV.

You can also feel good and have peace of mind if you have good debt.

 

[existential_reality]

You already have an idea of what you want to do so just go ahead, regardless of your situational change it will still boil down to the basic.

If you can make the money work above the interest rate then don't pay, if you want peace of mind then pay it off.

If 60k outstanding is alot that question is subjective, so some it might seem huge and to others its just a down payment on a car. You know your own situation so best act accordingly. Too many irrelevant opinions clouds your judgement.

You can also feel good and have peace of mind if you have good debt.