Keys - Its been 3 years 1 month since we paid the downpayment for our flat. If you include the time since we threw in $10 for a chance at our flat, it would have been 3 years and 9 months of waiting already. So near yet so far. Another 15 hours or so and we will be the rightful legal owner of our house. Sound pretty exciting huh?
Loan - About an hour ago, I was still thinking about the loan duration to take for our HDB flat. A colleague came by and shared how CPFB and HDB had made an error in his wife's repayment amount.
His advice: Stretch the loan period to 30 years so that you pay the minimal. In the meantime, let your OA accumulate to the $20,000 cap and earn that 1 additional per cent of interest. Once you hit the ceiling, increase your amount to maintain the OA at $20,000 while shortening the loan to reduce the interest payable. Sound pretty simple huh?
Debts - No matter what, I will be entering the 2nd debt of my loan (the first being the computer loan I took in NTU). This will probably take me a much longer time to repay the amount. I guess that is the life of a typical Singaporean. However, I do not think I will be getting into my 3rd loan any time soon and hope it stay that way as I am not a big fan of borrowing and owing people money.
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