Nov 19 2008, 11:14 PM
QUOTE(mousepad87 @ Nov 19 2008, 08:50 PM)
dont think it correct...
borrow 1mil... monthly installment 101k... saving 10month also can buy cash..
btw.. I detect few wrong calculation..correct if im wrong to..
1,000,000 + (6.75% x 30years x (loan balance<1M)) = 3.025M
Monthly installment = 3,025,000 / 30year x 12month = RM8402
so monthly u profit almost rm2k.. so it worth to buy rite?
mousepad87,borrow 1mil... monthly installment 101k... saving 10month also can buy cash..
btw.. I detect few wrong calculation..correct if im wrong to..
1,000,000 + (6.75% x 30years x (loan balance<1M)) = 3.025M
Monthly installment = 3,025,000 / 30year x 12month = RM8402
so monthly u profit almost rm2k.. so it worth to buy rite?
No, you are WRONG.
You forgot that the 500K down payment that could earn at least 3.7% in FD. So, you lose 18.5K per year because you buy this house. This is OPPORTUNITY cost.
2K - 1.5K = RM500 per month.
And, we have not even factored in quit rent and so on...
Dreamer
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