Wildy the Journeyman (into_the_wild) wrote,
Wildy the Journeyman
into_the_wild
  • Mood: surprised
  • Music: ABBA - Money Money Money

Home loans groan

I definitely cannot afford an apartment, but took some time to compile the various interest rates that the local banks and finance companies are offering at this current moment. With different schemes and benefits such as fire insurance and nil penalties to early repayment, it is not easy to find the optimim loan package.

And the amount of interest that one pays to the bank for a S$600+K property over a 20-30 year period works out to be S$150,000 to S$220,000! That's a lot of money! That's many months and years of salary.

Food for thought.
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  • 18 comments

  • :: Of Rental and Love ::

    :: Of Rental and Love :: The thing that was on my mind for the Past few days, was to get the unit rented out. I collected the keys last…

  • :: 11 June 2010 ::

    :: 11 June 2010 :: After several hefty purchases within these few months, I seriously think that I will should not get…

  • The Pitcher Plant

    I have been staying in my current apartment for about twenty months already. At the thirty-sixth level, it enjoys great…