Asked by KK
Hi Guru
I have recently brought a freehold apt
for investment.
having a hard decision.
The problem is:
1) Bank A able to provide 45 years installments for freehold property. The legal fee covered by the bank is capped at $2500 as my loan amount is less than $400K, I have to pay the less of about $1000.
2) Bank B provides 40 years installments, legal fee paid by bank is also not more than $2500. Base on the loan amount, I have to pay about $500+.
3) I have to pay the difference of $500 if I choose Bank A
I may intend to hold up to 8 to 10years if before TOP price offered is not attractive. I will rent it out.
I would like to have longer installments, It's to play safe, in case the interest rate goes up, I still able to hold. Is it worth to pay extra $500 to choose bank A.
Please advise. Thanks
I have recently brought a freehold apt
for investment.
having a hard decision.
The problem is:
1) Bank A able to provide 45 years installments for freehold property. The legal fee covered by the bank is capped at $2500 as my loan amount is less than $400K, I have to pay the less of about $1000.
2) Bank B provides 40 years installments, legal fee paid by bank is also not more than $2500. Base on the loan amount, I have to pay about $500+.
3) I have to pay the difference of $500 if I choose Bank A
I may intend to hold up to 8 to 10years if before TOP price offered is not attractive. I will rent it out.
I would like to have longer installments, It's to play safe, in case the interest rate goes up, I still able to hold. Is it worth to pay extra $500 to choose bank A.
Please advise. Thanks
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