Ho Xin Jun asked 9 years ago
Hi KC,
I want to ask for now I am able to get a house loan from Bank A at a rate of 4.25%, which is fantastic, but the only problem is it requires me to get its own MRTA for a minimum 18 years. So
I am asking here is it still a decent offer? Considering if I am going for resell after a certain period of time.
Thanks
Regards
Ho Xin Jun
1 Answers
KCLau Staff answered 9 years ago
Hi Xin Jun,
In your case, I would calculate the savings of interest versus the premium I would have to pay for MRTA. If it doesn’t make much savings, then it is up to you to decide whether you need that insurance. It seems that you don’t need it if the property is for flipping.