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 Housing loan is scary

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desmond2020
post Oct 10 2023, 09:31 AM

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QUOTE(max_cavalera @ Oct 10 2023, 09:31 AM)
Unker ppr in 2013 buy only rm218k.

Monthly supposed to be rm1100 wonly.

But pay rm2k monthly now.

Currenlt principle left rm66k wonly.

Hope can fully settle within the next 2-3 years.
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now this is smart move
desmond2020
post Oct 10 2023, 09:33 AM

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QUOTE(Duckies @ Oct 10 2023, 09:31 AM)
Want to ask ya if I put more money inside...it only reduces the loan duration right? Not the loan amount monthly right?
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it reduce the interest you need to pay for each month. in other word, your instalment contribute more toward principal amount
desmond2020
post Oct 10 2023, 09:37 AM

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QUOTE(Duckies @ Oct 10 2023, 09:36 AM)
But the monthly amount dont change right?
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yes it is the same
desmond2020
post Oct 10 2023, 11:21 AM

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QUOTE(prdkancil @ Oct 10 2023, 11:13 AM)
Then wat is the max % allow to park into flexi loan acc?
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30% for most bank

 

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