Asked by David
Is it advisable to pay off lump sum for my new flat? Currently I own a flat and have applied for a BTO which will come in 2017. By then after selling my current flat I would have enough to pay off lump sum for my new BTO. After the principal amount and accrued interest is returned to CPF I would have about $200K in my CPF Ordinary Account. Is it advisable to use up every single cent to pay up the house or should I leave some money in my CPF and take up a bank loan? What are the pros and cons of paying up everything one shot vs taking up a bank loan?
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