How Many Years U Take To Pay Mortgage Loan?

[berry_surprise 0]

So i finally get to speak with the resale officer. I checked hdb recruitment website, in order to be a resale officer, u must be a degree holder.

n my resale officer is indeed young and i might have seen him before in his campus

anyway i ask him on how much do i have to pay if i take on various length of mortgage repayments.

for me, the best bet will be 25% of total monthly income to be spend on paying mortgage.

but as the job security is at risk and i could be the one who get retrench tomorrow and nobody can predict it.

at the moment, i intend to take 15yrs mortgage period.

I want to know how long do you and ppl whom u know take to repay their hdb mortgage?

is it wise to pay asap?

[wolflet 1]

So i finally get to speak with the resale officer. I checked hdb recruitment website, in order to be a resale officer, u must be a degree holder.

n my resale officer is indeed young and i might have seen him before in his campus

anyway i ask him on how much do i have to pay if i take on various length of mortgage repayments.

for me, the best bet will be 25% of total monthly income to be spend on paying mortgage.

but as the job security is at risk and i could be the one who get retrench tomorrow and nobody can predict it.

at the moment, i intend to take 15yrs mortgage period.

I want to know how long do you and ppl whom u know take to repay their hdb mortgage?

is it wise to pay asap?

imo, its better to take max term (ie: 30 years) and if you have spare cash/cpf, do a partial repayment to reduce the installment amount or term. At least there is more flexibility

[musicbox 0]

imo, its better to take max term (ie: 30 years) and if you have spare cash/cpf, do a partial repayment to reduce the installment amount or term. At least there is more flexibility

Agreed.

For me i started with 15 years but fully repaid in 4 years. Total interest spent only about $4-5k.

[forgotten 1]

Agreed.

For me i started with 15 years but fully repaid in 4 years. Total interest spent only about $4-5k.

I would take +5 extra years as buffer for situation where we lose our jobs suddenly. I wouldn't want to fork out cash to pay for my instalments.

My bank loan is 35 years, as I'm paying for the bank loan alone.

Edited January 28, 2010 by forgotten

[jeda 0]

i will be taking 20yrs loan cos husband's org has early retirement age.