Hi guys
Helping my bro to decide his new purchase, but I think I need your opinion which loan better for a BUC, TOP only in 2015?
1. SCB Package 1
Year 1 @ 1mth/3mth sibor + 0.55% (0.95)
Year 2 @ 1mth/3mth sibor + 0.55% (0.95)
Year 3 @ 1mth/3mth sibor + 0.65% (1.65)
Year 4 @ 1mth/3mth sibor + 0.65% (1.65)
Thereafter @ 1mth/3mth sibor + 0.85% (1.85)
Interest expenses for 1st 3 years: $8,152.09
Interest expenses on 1st 5 years: $26,073.24
2. DBS 1mth SIBOR + 0.75% through out
Year 1 @ 1mth Sibor + 0.75% (1.15%)
Year 2 @ 1mth Sibor + 0.75% (1.15%)
Thereafter @ 1mth Sibor + 0.75% (1.75%)
Interest expenses for 1st 3 years: $9,142.08
Interest expenses on 1st 5 years: $26,991.73
Both packages offer free fire insurance (4yrs for SCB, 5yrs for DBS) and legal subsidy.
Thanks!