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 Refinancing your property for cash, and credit consolidation

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post Jul 10 2017, 12:29 AM

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QUOTE(wild_card_my @ Jul 6 2017, 05:33 PM)
This is on the lower side. For other banks the DSR can go up to 90%. Also, not sure about AIA's calculation of current commitments, will they follow CCRIS or can clients override that with the installments stated on the LOs? In my professional opinion, the rate is also on the higher side and you would be losing a lot with fixed rates in long term - not many will hold one mortgage for too long nowadays too.
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I think fix rate is good for those who always pay extra to their mortgage.. I've a friend took Aia fix rate loan 30 years however she owes paid extra n she managed to fully settle the loan in 10 years time and save a lot of interest. But she has a way of calculation on how much extra to pay eveymonth in order to fully settle earlier.

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