new POSB HDB Loan
- Thread starter pleeted
- Start date
Investment return is assumed to be ~1% - less than the interest rate. It is this assumption that leads to the conclusion that a shorter loan is better. The results would be different if assumption is 3% (considered conservative already) or 5%.
so do you think this new POSB HDB loan is worthwhile a shot for me who is currently with HDB loan interest of 2.6%pa, with 13 years remaining to service the loan?
as the 1st 10 years is capped at 2.5% max, i woudl have gained 0.1% pa for the 1st 10year assuming the interest is really 2.5% throughout the decade.
After which, the remaining 3 years loan will be subject to the interest rate fluctuation.
Overall, it seems to be a "go" for me.
Agree?
as the 1st 10 years is capped at 2.5% max, i woudl have gained 0.1% pa for the 1st 10year assuming the interest is really 2.5% throughout the decade.
After which, the remaining 3 years loan will be subject to the interest rate fluctuation.
Overall, it seems to be a "go" for me.
Agree?
You can even refinance into a 10 year loan right? Maybe the monthly installments will increase just a little bit.
Spoke to them.
For these 2-day promo, legal fee given a rebate of $1.6k (1.2k in cash and 0.2k in valuation when you sell your house next time).
Unable to find out about their insurance premium to compare with HDB's.
For these 2-day promo, legal fee given a rebate of $1.6k (1.2k in cash and 0.2k in valuation when you sell your house next time).
Unable to find out about their insurance premium to compare with HDB's.
I have exactly the same thoughts as you when I was talking to the bank staff just now!
Plan to squeeze into 10 years from my 13 years.
I suppose the legal subsidy of $1.8k will be there as long as I sign up? Or is it only during these 2 days?
i think if the loan amt is above $100K, the $1.8K legal fees will be subsidised, if i am not wrong.
House Insurance: You referrgin to the mortgage insurance, or fire insurance?
If it is mortgage insurance, i am already using pte mortgage insurance under Aviva, so i reckon if i switch over to POSB HDB loan, my mortgage insurance shd be unaffected.
thansk....for the POSB mortgage insurance of sibor+1.48%, is it officially mentioned anywhere? The POSB staff did not mention this to me at all.
Fire insurance from POSB, as compared to HDB, i reckon should not be substantially different?
Don't think was mentioned anywhere. But for my case, the staff generated 2 fact sheet - one with and one without after I asked about it. Told me can still stick to hdb hps if I opt out.
For fire insurance, my current one is the basic one only less than $10 every 5 yrs. The posb one I still waiting for the staff to get back. Based on posb website is at least $119/yr. Some more must pay cash. Of cos coverage is much different.
For fire insurance, my current one is the basic one only less than $10 every 5 yrs. The posb one I still waiting for the staff to get back. Based on posb website is at least $119/yr. Some more must pay cash. Of cos coverage is much different.
was told the rebate is 1.8k cash paid out after 3 mths.
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