Originally Posted by
Arcachon
Let me see.
Flat Type 5-Room
Flat Model Improved
Date Of Application 25 Oct 1993
Date Of Purchase 01 Nov 1995
Purchase Price $225,600
Outstanding Balance $ 61,437.96 as at 29 Oct 2014
Buy HDB 5 Room in 1995 for SGD 248,160, loan SGD 200,000. since 01 Nov 1995 after 19 years 31 Oct 2020 (25 yrs loan max)
Monthly Instalment = $ 923.00
173,320.72 74,860
Accrued interest as at SEP 2014 $ 58,086.92 27,646.97
Total principal amount withdrawn and accrued interest $ 231,407.64 102,506.97 = 333,914.61
My calculations are not far off, better in fact.
But do try the same calculations for a 500k HDB bought today.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.