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Do you think $2k per month repayment is affordable?
- Thread starter valentine
- Start date
are u mad?! 2k per month for the next 30 yrs?! what if economic crisis and one of u lose ur job?!
when i bought the house and chose the flat size, i chose according to the lower income between us.. if we were able to pay with just one person;s CPF. coz once the house come, we will have alot of debts.. and if with kids?! where will ur 2k come from?!
when i bought the house and chose the flat size, i chose according to the lower income between us.. if we were able to pay with just one person;s CPF. coz once the house come, we will have alot of debts.. and if with kids?! where will ur 2k come from?!
hi valentine, i think if u have to start off paying 2k a mth, it is quite a big sum. considering that ur cpf OA account is 23% of ur income, it will mean that ur combined income has to be approx 9k per mth in order to pay off everything with ur cpf and not have to fork out cash.
while it may be fine to fork out some cash now, but next time when kids come, expenses will onli increase. you mentioned a 2k mthly repayment, but didnt mention ur loan tenure. is it full 30 yr? if it is not, just max out ur loan tenure, and pay less each mth. then clear off one lump sum when theres more money in ur cpf.
while it may be fine to fork out some cash now, but next time when kids come, expenses will onli increase. you mentioned a 2k mthly repayment, but didnt mention ur loan tenure. is it full 30 yr? if it is not, just max out ur loan tenure, and pay less each mth. then clear off one lump sum when theres more money in ur cpf.