I recently got a letter from HDB saying that the interest rate will be adjusted upward from 3.5% to 3.75%. Started to wonder whether it is worthwhile to re-finance the current outstanding loan ($140K) with a bank?
From the interest rate offered by bank, there seems to be some savings to be gain in the first 2 years. However, what are the other charges (e.g. legal fee) to take into consideration? Given the loan amount, the charges may wipe off the savings gained.
As such, is it still worthwhile to re-finance?
Re-financing HDB loan to Bank
Moderators: alvin, learner, Dennis Ng
dear Hunter,
you might be glad to know that you can either call us at 6339 9255 or 6737 8801 or email us at info@HousingLoanSG.com
We can then provide you with a detailed analysis showing you exactly how much interest savings you would enjoy and how much legal fees would be borne by you. Thus, you would be in a better position to make an informed decision as to whether to refinance your HDB Market Rate Housing Loan to a bank loan.
P.S. You don't have to pay a single cent for our service. We don't charge a fee as we're paid separately by banks.
you might be glad to know that you can either call us at 6339 9255 or 6737 8801 or email us at info@HousingLoanSG.com
We can then provide you with a detailed analysis showing you exactly how much interest savings you would enjoy and how much legal fees would be borne by you. Thus, you would be in a better position to make an informed decision as to whether to refinance your HDB Market Rate Housing Loan to a bank loan.
P.S. You don't have to pay a single cent for our service. We don't charge a fee as we're paid separately by banks.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.