Evillusion Supersonic May 26, 2012 Share May 26, 2012 Just checked my hdb loan statement. Loan amount=103 5000 Loan tenure=25 yrs montly payment=478 IP payment=90 Is the montly payment inclusive of hdb interest? Total payment after 25 yrs is 144000 estimated. Why am i still being charged IP of 90 over dollars a month which was initially 100 over dollars a month? My loan is 103 000 but will pay total ~144000 dollars and still need to pay IP monthly. Is this interest upon interest? I am really dumbfounded. Any gurus can explain! ↡ Advertisement Link to post Share on other sites More sharing options...
Unltd 5th Gear May 26, 2012 Share May 26, 2012 Just checked my hdb loan statement. Loan amount=103 5000 Loan tenure=25 yrs montly payment=478 IP payment=90 Is the montly payment inclusive of hdb interest? Total payment after 25 yrs is 144000 estimated. Why am i still being charged IP of 90 over dollars a month which was initially 100 over dollars a month? My loan is 103 000 but will pay total ~144000 dollars and still need to pay IP monthly. Is this interest upon interest? I am really dumbfounded. Any gurus can explain! Interest for Hdb loans are based on monthly res. yes you are also paying interests monthly, but he interest will lower monthly too after payment. Hdb loan is 0.1% above CPR rates FYI 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 (edited) Interest for Hdb loans are based on monthly res. yes you are also paying interests monthly, but he interest will lower monthly too after payment. Hdb loan is 0.1% above CPR rates FYI Wah! Like that i will be paying 200k for my flat. So if i sell away my flat i have to put back all of it back to my cpf account plus the IP? No wonder some pple had problems after selling their flats! from an orang utan to a gorilla. Thanks for the reply :wub: Edited May 26, 2012 by Eviilusion Link to post Share on other sites More sharing options...
Sabian Turbocharged May 26, 2012 Share May 26, 2012 Orang Utan and Gorilla also troubled by housing issues? Link to post Share on other sites More sharing options...
Donut Supercharged May 26, 2012 Share May 26, 2012 Just checked my hdb loan statement. Loan amount=103 5000 Loan tenure=25 yrs montly payment=478 IP payment=90 Is the montly payment inclusive of hdb interest? Total payment after 25 yrs is 144000 estimated. Why am i still being charged IP of 90 over dollars a month which was initially 100 over dollars a month? My loan is 103 000 but will pay total ~144000 dollars and still need to pay IP monthly. Is this interest upon interest? I am really dumbfounded. Any gurus can explain! Your 144000 should be the total layout, with interests. Link to post Share on other sites More sharing options...
Ysc3 Twincharged May 26, 2012 Share May 26, 2012 (edited) Wah! Like that i will be paying 200k for my flat. So if i sell away my flat i have to put back all of it back to my cpf account plus the IP? No wonder some pple had problems after selling their flats! from an orang utan to a gorilla. Thanks for the reply :wub: the way i look at it, very unlikely. eg, you bought $200k flat with $100k CPF. after 10 years, your accrued interest on your CPF is eg. $40k. so est you gotta put back $140k into your CPF a/c after the sale is completed. however, i wud confidently say you wud not be selling your flat for lesser than $250k after 10 years ? so in the end you might still make $10k or more !! ppl only have problem if they otang money outside other than serving their housing loans. Edited May 26, 2012 by Ysc3 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 Orang Utan and Gorilla also troubled by housing issues? No choice mar!Human cutting down rainforest to make city! And they oso turning remote mountain to resorts. Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 Your 144000 should be the total layout, with interests. Like that my total cost for my flat including interest will be nearly 240ks! I bought the flat new 17 yrs ago at sgd 137 500. Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 the way i look at it, very unlikely. eg, you bought $200k flat with $100k CPF. after 10 years, your accrued interest on your CPF is eg. $40k. so est you gotta put back $140k into your CPF a/c after the sale is completed. however, i wud confidently say you wud not be selling your flat for lesser than $250k after 10 years ? so in the end you might still make $10k or more !! ppl only have problem if they otang money outside other than serving their housing loans. No! My paper gain will be more than 200k! But for those buying now sound like getting a bad deal from the gov! Link to post Share on other sites More sharing options...
Vangaat Neutral Newbie May 26, 2012 Share May 26, 2012 So you got a good deal, clap clap.. Just curious do you have kids? Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 So you got a good deal, clap clap.. Just curious do you have kids? Yes... 1 boy 19 this yr n 1 girl 6 this yr! Y? Link to post Share on other sites More sharing options...
Unltd 5th Gear May 26, 2012 Share May 26, 2012 Orang Utan and Gorilla also troubled by housing issues? Gorilla is my pet, he is troubled I have shelter and he is out in the jungle. Maybe that's y he is pointing that finger... Link to post Share on other sites More sharing options...
Maroon5 5th Gear May 26, 2012 Share May 26, 2012 Like that my total cost for my flat including interest will be nearly 240ks! I bought the flat new 17 yrs ago at sgd 137 500. ya i thk if u incl the 2.5% cpf tat u have to top up then yes its closer to 240k. Link to post Share on other sites More sharing options...
Donut Supercharged May 26, 2012 Share May 26, 2012 Like that my total cost for my flat including interest will be nearly 240ks! I bought the flat new 17 yrs ago at sgd 137 500. No, what I mean is 144000 is your final amount you will paying for the loan, inclusive of interests. Best is you log into HDB web site with your Singpass and look at your financial status. Link to post Share on other sites More sharing options...
Evillusion Supersonic May 26, 2012 Author Share May 26, 2012 No, what I mean is 144000 is your final amount you will paying for the loan, inclusive of interests. Best is you log into HDB web site with your Singpass and look at your financial status. Did that in the morning, thats y i posted this topic.accounts says i have been paying $478 monthly n will have still to pay for the nx yrs. Than on top of the 478 there is still a $90 deduction a month but previous deduction was about $118/month. I tot i was paying $478/month inclusive of all interest.cb all-in-all i will be paying $144000 (accumulative monthly payment) + $36000 (downpayment) plus the IP payment of roughly $100 dollars/month for 25 yrs. So much for hdb subsidy! So actually i am paying nearly double my flats price! Link to post Share on other sites More sharing options...
Anshng Clutched May 26, 2012 Share May 26, 2012 if you dun buy the hdb and keep the money in yr cpf, after 25 yrs, your cpf amt will also be almost doubled Link to post Share on other sites More sharing options...
Jman888 Moderator May 26, 2012 Share May 26, 2012 Orang Utan and Gorilla also troubled by housing issues? Singapore zoo not cheap and too crowded [laugh] Link to post Share on other sites More sharing options...
Jman888 Moderator May 26, 2012 Share May 26, 2012 Yes... 1 boy 19 this yr n 1 girl 6 this yr! Y? 19 and 6 ?? ↡ Advertisement Link to post Share on other sites More sharing options...
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