Housing Loan query

[C3P0]

Re: Housing Loan query

he buying 10million sperm from me but took a loan from Bobby. Robot will repay his 5000 sperms a mth to bobby, tat wat robot can produce due to the older version robot software version 0.1.0

If I buy 10 million sperm from you, I have to wait for 10 million years, because everytime you come, only got 1 drop and it contains only 1 sperm!

 

[VAN36]

Re: Housing Loan query

Hi guys,

If I can add my 5cts worth, I think you should max out on your housing loan when you're young...imagine, you're 45....the bank will probably give you a 20yr loan...cost of borrowing is cheapest when it comes to housing loan because its collateralised. I would anytime pay full for a purchase of a car (recall effective interest of 5%, and non-amortisation of loan - rule 72??).

 

[C3P0]

Re: Housing Loan query

Hi guys,

If I can add my 5cts worth, I think you should max out on your housing loan when you're young...imagine, you're 45....the bank will probably give you a 20yr loan...cost of borrowing is cheapest when it comes to housing loan because its collateralised. I would anytime pay full for a purchase of a car (recall effective interest of 5%, and non-amortisation of loan - rule 72??).

Thanks for the input bro.
Yes, that's another school of thought, as compared to the other one ktnpl posted earlier (see below). Both are certainly very correct, and I agreed whole heartedly.

I used to use ktnpl's approach many years back when I can't find a better place to put my money. So I reduce loan balances, shortening my loan period by 8 years. Now I look back, cool, I only have xx years to go before fully paying up that loan! I am glad I did that at that time.

For last 2 years, I used VAN36's approach, as I found a good place to put my money.
So reducing my existing propery loan balances now is not so attractive as I could have used the money to earn higher return.

Both approaches are correct. The only thing that could go wrong, I think, is if a person uses a particular strategy at the wrong time. Poor financial planning, isCOWpeh say one. :laughlik:

Not many pple will advise this but I recommend opting for maximum payment and shortest possible loan repayment period to reduce the cost of borrowing. Next, make lump sum payments periodically without reamortisation to further shorten the loan period. If you choose this strategy, make sure the agreement does not have penalties for early repayment. If yes, ask for the clause to be cancelled out.

 

[iScoupe]

Re: Housing Loan query

I am jobless & starting my exotic dancer career soon... i cannot afford any property.
Bank loan also difficult to approve, bank rate my career as self-employed.

 

[C3P0]

Re: Housing Loan query

I am jobless & starting my exotic dancer career soon... i cannot afford any property.
Bank loan also difficult to approve, bank rate my career as self-employed.

You can go and sell sperm.
Walao, I OT my own thread. chao isCOWpeh.

 

[henry2703]

Re: Housing Loan query

Actually i beg to differ regarding the maximum payment to finish off the loan fast.

If income can support a higher payment, that is of course good.

However, in your case, that being an investment property, you shoudl have a good leverage on it.

My personal principle, pay off the roof over the head ASAP... for investments, drag as long as possible, anyway, some one else will be paying interest for me...

my 2 cents worth

 

[C3P0]

Re: Housing Loan query

Actually i beg to differ regarding the maximum payment to finish off the loan fast.

If income can support a higher payment, that is of course good.

However, in your case, that being an investment property, you shoudl have a good leverage on it.

My personal principle, pay off the roof over the head ASAP... for investments, drag as long as possible, anyway, some one else will be paying interest for me...

my 2 cents worth

+1. Agreed.
(If I'm not wrong, ktnpl's example of paying off fast refers to roof over own's head.)

 

[VAN36]

Re: Housing Loan query

The only problem is what kind of investment opportunities can you find for your spare cash....with markets being so volatile and the macro economic environment still looking so uncertain....I rather just leave it lying the bank for 1%....or upgrade to the new upcoming 5 series...hee hee

 

[C3P0]

Re: Housing Loan query

The only problem is what kind of investment opportunities can you find for your spare cash....with markets being so volatile and the macro economic environment still looking so uncertain....I rather just leave it lying the bank for 1%....or upgrade to the new upcoming 5 series...hee hee

Hmmm....very true.
For my case, I'm looking at property. Need time to accumulate cash for downpayment, so I asked about loan details first and then wait for right moment to jump in. Now cash still lying in FD, ha ha. Don't know got 1% or not :laughlik:

With conflicting reports on economy, also don't know when is the right moment. Market haywire now.

 

[iScoupe]

Re: Housing Loan query

Hmmm....very true.
For my case, I'm looking at property. Need time to accumulate cash for downpayment, so I asked about loan details first and then wait for right moment to jump in. Now cash still lying in FD, ha ha. Don't know got 1% or not :laughlik:

With conflicting reports on economy, also don't know when is the right moment. Market haywire now.

when u buy to stay , there is no right moment, right moment never comes to you so often & even is right moment u might not seize it cos u born not so smart from ur post/thread i read, tat life, is fair. there are 3 kind of pple;
1. some1 who make thing happen
2. some1 who watch thing happen
you are the type3 -
3.some1 who don't know what happen
muhahahahahahahahahahahaha....................................... buai song settle outside...

 

[C3P0]

Re: Housing Loan query

when u buy to stay , there is no right moment, right moment never comes to you so often & even is right moment u might not seize it cos u born not so smart from ur post/thread i read, tat life, is fair.

Buy to stay also got right moment one, though it can be dependent on luck sometimes. Lower purchase price of house = lower debt = lower instalment = got more cash to go damalu.

Not applicable for you because yours is humming bird, go damalu the girls will laugh at it.

 

[C3P0]

Re: Housing Loan query

there are 3 kind of pple;
1. some1 who make thing happen e.g. I poke you
2. some1 who watch thing happen e.g. you bend forward, look through your legs and watch yourself ganna poked by me
you are the type3 -
3.some1 who don't know what happen e.g. after ganna poke, you still don;t know what happen
muhahahahahahahahahahahaha....................................... buai song settle outside...

wa ha ha
Ok, tonight i go damalu, you come and settle for me.

 

[iScoupe]

Re: Housing Loan query

Buy to stay also got right moment one, though it can be dependent on luck sometimes. Lower purchase price of house = lower debt = lower instalment = got more cash to go damalu.

Not applicable for you because yours is humming bird, go damalu the girls will laugh at it.

they laugh at my humming bird but still play & tickle with it, when they see ur rusty rod all ignore....
only the toilet cleaner use sand paper help u sand..... then ask u "ai towel mai.. ah tee $2 pls "

 

[VAN36]

Re: Housing Loan query

Guys, what's this damalu about? I haven't heard of it....

 

[C3P0]

Re: Housing Loan query

Guys, what's this damalu about? I haven't heard of it....

Bro, come to our next satay or club sandy meetup. Probably will be at damalu. Then you will know loh
Btw, it's where iscoupe lost his virginity.

 

[hum@n]

Re: Housing Loan query

they laugh at my humming bird but still play & tickle with it, when they see ur rusty rod all ignore....
only the toilet cleaner use sand paper help u sand..... then ask u "ai towel mai.. ah tee $2 pls "

iScream, why you put ken's GF photo as your avatar? you got ask his permission bo?

 

[iScoupe]

Re: Housing Loan query

iScream, why you put ken's GF photo as your avatar? you got ask his permission bo?

Ken say help him promote his GF lei, say can park & ride - Omar , MW & C3PO call for booking liao.

 

[donaldho]

Re: Housing Loan query

I think so far Maybank got the best Home Loan fixed rate now, correct me if I'm wrong.

 

[ktnpl]

Re: Housing Loan query

If I'm not wrong, ktnpl's example of paying off fast refers to roof over own's head.

Yup I am referring to owner-occupied property and a debt-averse approach i.e. no other debt.

I have a loan planner in excel file for micro-managing and calculating the life cycle cost of your home loan. You can pm me your email address if you are interested. You can see how the effect of changes in interest rate and your decisions such as loan period, lump sum payments and reamortisation affect the total cost of borrowing.

 

[C3P0]

Re: Housing Loan query

Yup I am referring to owner-occupied property and a debt-averse approach i.e. no other debt.

I have a loan planner in excel file for micro-managing and calculating the life cycle cost of your home loan. You can pm me your email address if you are interested. You can see how the effect of changes in interest rate and your decisions such as loan period, lump sum payments and reamortisation affect the total cost of borrowing.

Thanks bro. PM sent!