Remember that the interest rate on mortgages fluctuates. After a few years, you can always ask for a revised from your existing bank.
Currently, it is about 4.30% to 4.50% p.a. Some house buyers who are not mindful of the current rate may be paying a mortgage interest rate of BLR + 0% or 6.60% p.a.
For a loan of RM500,000, at 4.50% you pay RM3,163 per month.
In total, you pay RM758,954 over 20 years.
Compare this with 6.6%, where you pay RM3,757 per month.
In total, you pay RM901,520 instead.
If your current mortgage interest rate is BLR+ 0% and you do not ask the bank to revise your loan to 4.50%, you will end up paying an extra of RM142,566.
A small mistake that costs you dearly.
For more Home Loan information and enquiry,
please call/ Whatsapp us at +6012-6946746
or visit our website www.malaysiahousingloan.com
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