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Thread: Housing Mortgage: Will you refinance?

  1. #1
    Member
    Join Date
    Jul 2005
    Location
    Singapore, West
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    478

    Default Housing Mortgage: Will you refinance?

    Interest rate is down w.r.t. last year.

    So is property price.

    WIll you still go ahead ot refinance your mortgage if the new bank gives you a lower valuation of your property and you need to fork out some cash to cover the gap?

    what else we need to watch out to prevent ending up paying more after a refinance exercise?

  2. #2

    Default Re: Housing Mortgage: Will you refinance?

    why do u want to refinance your property? to invest (stock speculation is not investment) or to enjoy an extravagent lifestyle?

    if u need to borrow money, property loan is the cheapest loan that 1 can ever get.

  3. #3
    Member
    Join Date
    Jul 2005
    Location
    Singapore, West
    Posts
    478

    Default Re: Housing Mortgage: Will you refinance?

    Quote Originally Posted by Quest View Post
    why do u want to refinance your property? to invest (stock speculation is not investment) or to enjoy an extravagent lifestyle?

    if u need to borrow money, property loan is the cheapest loan that 1 can ever get.
    indeed mortgage is much cheaper than other forms of loan - personal loan / credit card interest.

    Still we all spend the first few years of the mortgage paying $ which mainly is interest and little reduction on the principle.

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