.
Seems, the Rule Of 78 is still being applied by Malaysian banks for long term housing loans. .......

https://www.investopedia.com/terms/r/ruleof78.asp - Rule of 78: Definition, How Lenders Use It, and Calculation
By CAROLINE BANTON Updated March 06, 2021
Reviewed by THOMAS J. CATALANO
What Is the Rule of 78?

The Rule of 78 is a method used by some lenders to calculate interest charges on a loan. The Rule of 78 requires the borrower to pay a greater portion of interest in the earlier part of a loan cycle, which decreases the potential savings for the borrower in paying off their loan. ...

In 1992, the legislation made this type of financing illegal for loans in the United States with a duration of greater than 61 months. ....
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debt/loan is still loan....uncle rather it to be off-set by uncle life insurance rather than using current cash flow to cover it....

why take a loan if you don't actually need it? lol

every "long-terms" spending, uncle don't mind to service the debt....because it is long terms debts that uncle knew it when the day 1 uncle sign the SPA.

what is the value of 350k after 35 years?

uncle time RM 1 is so big....now.....speechless edy

indeed, but nothing to lose since ASB dividen return for the last 2-3 years quite low.

i see, well unless I work some good side job, I dont really have much cash to dump into flexi loan. only annual bonus and 12 month salary to dump into it annually, around 10K annually.

I also not keen on using EPF either since EPF higher interest.

No wrong on your part. One to its own.

Leveraging on mortgage is all about finance cost. Financing cost = high/low interest incurred over the time horizon.

Life insurance also incurred finance cost, cost of insurance.
That said, mrta redemption works wonder (lagi berbaloi) lol

This post has been edited by jojolicia: Oct 10 2023, 03:32 PM

Sendiri suka suka take loan, now want government to help you, didn't read contract?

One day those took out epf, will blame government why mahyiddin allow to take out the money.

This post has been edited by kelvinfixx: Oct 10 2023, 03:34 PM

Doesn't matter. As little as one has, do it right you will reduce your cost of financing.

You will never know your future income but most importantly doing it right in principal reduction. Thats the goal.

Mortgage is all about leveraging to the lowest cost of finance.

Yes, exclude epf

This post has been edited by jojolicia: Oct 10 2023, 03:40 PM

https://www.calculator.net/mortgage-payoff-calculator.html

use this if you plan to pay extra payments, very clearly shows you how much you'll be saving or paying for interest

we - as human only have 1 life...

if we die....let the mortgage debt settle by insuranace lor....either MRTA and MLTA or other Life insurance....

again, if not, especially we are very poor, then inherit nothing to our next generations lo....

debt will not inherit automatically....and your next of kin can reject to accept your asset (and the debt from that particular aaset).....

peace

buy normal life insurance la....cheaper and better....MRTA take minimum cukup edy....since it is reducing...

uncle encourage ppl to take out EPF saving to pay for mortgage....malaysian don't count on EPF to retire one....no point

Islamic loan not as this right? They using term buying and selling, u pay more, it just deduct the future payment

This. Else make house loan capped at 10 years only not 35 years if keep calculating how much Bank take interest

Agree fully.
Peace upon all of us.

This post has been edited by jojolicia: Oct 10 2023, 05:48 PM

Kena scam, can't get merrid for life

Yes.

Not planning to merry.....
Prefer solo....

Let say I want to buy an apartment cost about rm600k, should I take 90% loan? Or 50% loan instead?

Throw cash 300k as deposit, then 300k with 10 years loan

However on 3rd year of loan I can settle the loan, anyone can help calculate how much interest I could save?

Gov will help to current those in need dire help to own a house / apartment which is small for a family to own a place that call home.

However, those manage to get without gov help are suffering becoz die die also want a house with big huge interest.

None help to them, apart from income tax but only last for the last year's ago ? But only reduce income tax but continue once lapse.....kesian dulu dulu purchase for the sufferings.,...