Wednesday, May 02, 2007

Refinance your housing loan

My friend had a housing loan where he has been paying interest of about 5% for the past few years.

He found that he could refinance his loan and enjoy a lower interest rate. This will save him a lot of money over the next few years.
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1 comment:

Unknown said...

Dear Mr Tan,

Good morning,

Refinance might lower the premium that is needed to pay for the flats. But don't forget that there is still the lawyers, stamp charges to be think of.

I think that the best is to either use 1 lump sum or decrease the morrtgage term from x number of years to x -y number of years. But that is if he have extra money to be given to the bank.

Hope the information helps.

Thanks and best regards,
Kim Seng

April 17, 2007 8:38 AM

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