hdb loan to take the max?

[angelwings]

you should not try to pay off your home loan. There is this thing in HDB that if one spouse pass away, (suicidal not counted) the HDB will be paid off by the govt in full. so the spouse dont need to worry about a roof over his/her head

i know of a few people whom the spouse pass away, their hdb is given 'free' by hdb to them already.

 

[ephemeral]

so good?

either one of the spouse?

 

[rojak]

i don't thihnk we need to aim to pay off everything (if can, good for you). coz we can take it as a loan from hdb... like slowly renting it and eventually owning it. as carltoneoz mentioned, it's better to be cash-rich instead of dumping it all into your flat just ot be debt-free. then use the cash to invest at other stuff to get back returns. money grow money. you'll notice that most rich people get there from investments, and to do such huge investments, they tend ot borrow money and are almost never debt-free. they just borrow money to invest to earn money etc... as long as you don't over do it, it's fine

 

[missylis]

all the opinions here are good.. i will not pay full for my HDB too. will be paying through CPF instead

 

[rojak]

dont think HDB can do 40 years, think only 30 years but they might stretch it to 40 years soon as the prices keep increasing lor. I will opt for 40 years if have even though theres compounded interest but at least it is less taxing each month, then if do manage to get promotion at work with lots of spare savings then can pay a huge sum at one short at certain points of time and this will help lower the compound interest and yet at the same time dont have to be so afraid if lose the job

does the compounded interest reduce if you suddenly pay a lump sum sometime? I had the impression that they calculate the total compound interest for 30/40yrs, then they divide that total (loan+interest) by the years so you pay the same amt each time.. meaning the interest is fixed ler, but u can clear faster with lump sum. But i'm not too sure if this is the way it works for housing loans or some other loans...

 

[poki]

Hi all, do you know how much HDB loan will HDB loan to us? if we take up HDB loan.

 

[zefina]

Yes try to max it. Anyway interest is so low why worry. Importantly time to time remember to do refinance to ensure you are getting the best rate.

 

[ladylizzie]

can someone please tell me some of the policies involved in hdb loan?