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 Housing loan is scary

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TSrobotking123
post Oct 10 2023, 09:28 AM, updated 3y ago

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Loan 350k
Today outstanding: 320k
Already served 6 years plus, 1500 monthly

6 x 12 x 1500 = 108k
108k - 30k = 78k

Bank already earned 78k interest from me, bloody hell
Gov should do sthg, how can house loan be so expensive...
TSrobotking123
post Oct 10 2023, 09:40 AM

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House loan should follow car loan, max 9 years and fixed interest. Today bought Benz 300k loan 9 years also not this expensive. How come house loan interest so high than car?
TSrobotking123
post Oct 10 2023, 11:01 AM

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Now Bang Nuar gonna remove the subsidy, then at least help us to reduce our house loan. Just set bank max can only charge 50% interest of the house loan amount. Problem solved, all happy
TSrobotking123
post Oct 10 2023, 11:38 AM

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QUOTE(kidmad @ Oct 10 2023, 11:36 AM)
This is important.. to those taking >25 years loan the first few years is critical.. if monthly you can double up the repayment you actually need around 12 years only to completely pay the property.
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Talk like so easy all can afford pay 2x instalment, money fall from sky

 

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