Financial Help Me to Make Decision in Choosing Loan Package, Final Call, I hope So, Thank You
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  Oct 6 2009, 08:05 PM, updated 17y ago
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#1
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Junior Member
316 posts Joined: Oct 2009 
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Dear all, I hv gotten two offering at the moment:
i) LA xxxK + MLTA 30yr 25K with Yr 1-5 @ -2.0% & thereafter -2.4% * ii) LA xxxK + MRTA 30yr 11K with Yr 1-6 @ -2.1% & thereafter -2.3% ** * MLTA 30yr 25K fully refunded upon maturity ** MRTA 30yr 11K burnt upon maturity n/b1: Both MLTA/MRTA diluted into my loan n/b2: Loan amount (LA) is same Which one is more worthy to be considered? Which one would you take and why? A noob in this, very confusing now  , appreciate your input, Thank you  |
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Oct 7 2009, 10:52 AM
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#2
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Junior Member
316 posts Joined: Oct 2009
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Thank you for reply
My primary approach is to refinance to the maximum so that I can cash out for other investment, how do I correlate my approach to the offered packages or they are two different things?  This post has been edited by n0v1ce: Oct 7 2009, 10:54 AM |
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Oct 7 2009, 11:21 AM
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#3
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Junior Member
316 posts Joined: Oct 2009
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QUOTE(cuebiz @ Oct 7 2009, 11:02 AM) Both plan not worth considering. Take out MRTA/MLTA and get standalone plan. If you factor in the insurance to the home loan, you be paying interest for them for next 3-5 years whereby your home loan principal still remains at 100% To me MRTA/MLTA is a must as I am a breadwinner   |
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Oct 7 2009, 01:11 PM
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#4
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Junior Member
316 posts Joined: Oct 2009
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QUOTE(cuebiz @ Oct 7 2009, 12:02 PM) MRTA/MLTA is important. You can get them separately from insurance company. My point is that you do not add these into your home loan. Advice noted. Cash on-hand is the king to me now QUOTE(R o Y @ Oct 7 2009, 12:39 PM) Are you buying for Investment (Rental or Cap Appreciation?) or for own stay? Different objective will have different insurance needs For live-in purpose; it's a refinancing of my existing house in order to get better rate and some cash |
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Oct 10 2009, 02:44 PM
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#5
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Junior Member
316 posts Joined: Oct 2009
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Anymore advice? I will have to get back to them as the offer letter is only valid for 14-days, Thank you
By the way, do you think that bank will further markdown the rate (> BLR -2.4%) in near future |
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