THAIFLOWERS

Posts Tagged ‘loan’

There are four categories of real estate loans available today; Refinance, Private, HDB, and Commercial Real Estate Loans.

Refinancing your home loan can save you many thousands of dollars on interest costs over the life of your loan. A 2% savings over a 3 year period on a 1m property can easily save you $20,000. Refinancing options are available for both private home loans as well as HDB loans. The criteria for refinancing these two types of loans can vary considerably, so be sure to check with your lender or financing specialist to determine what their requirements for your particular situation are, and if refinancing is a feasible and desirable option for you.

Much of this information regarding real estate/mortgage acceleration tactics may seem redundant to you. I am sure you have heard of many of these principles or strategies for paying off your mortgage early. There are pros and cons to paying off your mortgage early. Keep in mind most people keep a mortgage no longer than a few years. In fact the median time living in a particular piece of real estate is only nine years. Also the interest that you pay on your mortgage could be a tax write off you can take advantage of every year as well.