Nov 2 2021, 06:27 AM
QUOTE(deleted @ Nov 1 2021, 06:34 PM)
Hi,
So I'm looking to buy a property.
The developer is offering to absorb 10% downpayment if i can get 90% loan (doable).
Property will be done either end 2023 or early 2024.
I can get a better rate as i am a bumi, but my wife to be is Chinese.
So SPA is likely under my name only, as is the loan.
My question is,
1) at what stage is it better to withdraw epf to lower the loan? Right at the beginning or can i withdraw later when turn key and pay towards the principal then?
2) can my wife withdraw her epf after marriage to pay for the house? Does she need her name on the title?
1. Depending on how 'tight' is your monthly repayment against your income. If is manageable, then do it later since the current interest rate is low compared to the epf dividend received.So I'm looking to buy a property.
The developer is offering to absorb 10% downpayment if i can get 90% loan (doable).
Property will be done either end 2023 or early 2024.
I can get a better rate as i am a bumi, but my wife to be is Chinese.
So SPA is likely under my name only, as is the loan.
My question is,
1) at what stage is it better to withdraw epf to lower the loan? Right at the beginning or can i withdraw later when turn key and pay towards the principal then?
2) can my wife withdraw her epf after marriage to pay for the house? Does she need her name on the title?
2. Yes and No.
This post has been edited by mini orchard: Nov 2 2021, 06:30 AM
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