Whats your monthly instalment to service your housing loan?

[jasmine17]

we are planning to purchase a resale HDB flat.
not sure how it will cost us.

 

[PTB7476]

It depend on how much cpf u have and how long u can/want to drag your loan.

For us cpf+cash, 2.5k cos we want clear the loan in less than 10yrs when we still have the finance ability

 

[stonston]

Mine is a BTO unit. 4 rm, top floor, 200k. We took 25yr loan, $500 per mth. We intend to pay off lump sum once we can (cos you can always shorten the loan but it's hard to lengthen the loan in times of need).

My installment is 100% by CPF. No cash top up. We planned it this way so that in case one of us is jobless (like now, I'm not working), then the other's CPF can 100% cover the installment without any worries.

I prefer to keep my cash in investments that offer better returns

 

[apollo]

Mine is a BTO unit. 4 rm, top floor, 200k. We took 25yr loan, $500 per month. We intend to pay off lump sum once we can (cos you can always shorten the loan but it's hard to lengthen the loan in times of need).

My installment is 100% by CPF. No cash top up. We planned it this way so that in case one of us is jobless (like now, I'm not working), then the other's CPF can 100% cover the installment without any worries.

I prefer to keep my cash in investments that offer better returns

ston, i used the CPF 'calculator' to calculate. mine is 228k but we alrdy paid 5% by CPF. i chose the 30yrs one but aft adding interest, it said 785 per mth.. is those online calculator thingy accurate?

 

[stonston]

ston, i used the CPF 'calculator' to calculate. mine is 228k but we alrdy paid 5% by CPF. i chose the 30yrs one but after adding interest, it said 785 per month.. is those online calculator thingy accurate?

It's accurate. Dun forget: collect key need to pay another 5% downpayment.

Then before they loan you anything, they wipe your CPF clean. So you have to factor all you have in then calculate the loan. For mine, our loan amt work out to be only ard 140k though house price is 200k. We originally estimate $700+ monthly installment but turns out me & hubs contributed alot more than we expected while waiting for the new house to arrive (cos bonus also got CPF).

 

[dflora]

Hi Jasmine,

I think you are concern with how much cash you need to fork out.

It actually depends on many factors. Whether you have owned HDB before or not, any grants you have taken. What's the COV of the resale HDB you want to purchase? Your age, income, CPF available and etc... HDB loan or Bank Loan?

Your property agent should do a financial assessment for you so that you know what's your budget.

If you need assistance to look for your dream home, you can PM me.

Cheers!

 

[sgpropertyadvisor]

Hi, perhaps I can help.. to analyse and calculate potential savings on mortgage installments. Please contact
R3 Mortgage Consultancy Pte Ltd
Mainline: 65134750