    
Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 32860
Registered: 09-2011
Posted From: 161.141.1.1
Rating: N/A
Votes: 0 | | Posted on Tuesday, November 15, 2016 - 2:57 pm: | |
Thedarkknight: You can save the principal amount ( 3000 ) to invest somewhere else that beats the payment difference ( i.e difference of payment amount between 3% & 3.125% )
=> Assalu time ledantey, You can increase the equity of your house by paying that 3k amount and go for higher interest rate ( 3.125 ).
this part I agree.
Thedarkknight: I wouldn't suggest going for re-financing to shorter tenure for better interest rate. Just check if you can get better interest rates for the same tenure.
=> Lets say your current principal is 450k, @4.125, You would pay around 2180 EMI for 30 years
@3.125, You would pay around 3134 EMI for 15 years.
Basically you are paying 954$ extra every month.
All you need to do is figure out ways to invest safely so that the equity accumulated is always more than the difference in your "Principal equity of the House loan"
this one is not suitable for a novice like sasibob. India lo investing for higher interest rate option ayithe you are guaranteed to lose on exchange rate side. history is not kind for Indian Rupee Vs USD.
Ignorance is bliss
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