hi

i would like to ask regarding semi flexi loan. sifus opinion here are all welcomed

from calculator, if i intend to get housing loan of eg 300k

over 20 years, interest based on 4%:
- 100+k
- monthly payment 1800

over 30 years, interest based on 4%:
- 200+k
- monthly payment 1400
if i decided on the 30 years tenure and pay 1400 monthly but
however, after about 5 years, if i decided to pay 1800 as per the 20 years tenure (but still remained on the 30 years contract), does it mean in the end, the interest i eventually need to pay would be roughly as the 20 years tenure or will it be much higher since i have chosen 30 year tenure to begin with?

if i am able to commit to 1800 later, does it mean i have to do refinancing to change 30 years tenure to 20 years tenure?

or should i opt for 20 years tenure upfront to enjoy a lower cumulative total interest in the end?

bro, just take 30years if you're afraid you can't commit 1800/mth now. and you just pay extra whenever you can. you'll cut your tenure. most housing loan is using reducing balance rate (ie: your installment is based on your loan balance) and whenever you pay extra, it'll cut your tenure. find amortization calculator, it'll give you rough idea.

Do you mean we'll have to call the bank or someone & inform them to use the additional payment to clear the principal? I thought that was something automatic? Any documented process on this for Maybank?