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 Need some advice on loan tenure

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Zwean
post Oct 13 2020, 11:48 PM

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QUOTE(iqlas @ Oct 13 2020, 10:47 PM)
Im planning to buy a rm 280k 3 bedroom 2 bathroom condo early of 2021.
I need some advice in term of which route to take in term of payment.
Let say im having around rm100k of cash/liquid asset.
1  low cost apartment with market value of around rm150k. Rental would be around rm 700 per month.
Below are some of the payment  route that im thinking off:

1) pay 10% down + 30 year loan. Instalment are covered by renting out the apartment+ one of the room for the condominium.

2) pay 10% down + 10 year loan. Instalment are covered by renting out the apartment+ one of the room for the condominium+ topping up some of my money.

3) pay 10% down + 30 year loan. Sell the apartment + using my cash equivelant paying off more than what the installment actually needs.

4) is it worth to take a markup loan?

Im more incline towards finish off debt as soon as possible and use the net income to invest in etf such as stashaway personally.
Need some external opinion input in term of pros and cons so that i wont screw up this major purchase.
*
Take up as much loan as possible.

Cash is king.

This post has been edited by Zwean: Oct 13 2020, 11:58 PM

 

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