In Jun 12, I had calculated my total debt which is totally from the mortgage loan of my flat to be $8K. The calculation is based on using the outstanding housing loan amount minus away my total family CPF OA amount.
Today I have recalculated my total debt again, and it has reduced by another $5k. In my post on "What I hope to achieve in 20 years?", I mentioned that I wanted to reduce my total debt to $0 within the next five years, Based on my conservative estimation, it can be achieve by the end of this year.
How long do you take to fully paid for HDB mortgage?
ReplyDeleteHi MSAPersonalFinance,
ReplyDeleteSlightly less than 10 years.
Regards,
Freedom Achiever
Being an Financial Advisors, after seeing your debt amount, i will say you can repay your debt in 8-10 years,
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ReplyDeleteI took around 6 years to pay off my 1st property. Building up on my property portfolio now. :-)
ReplyDeleteCongrats on your debt reduction success!!
ReplyDeleteDefinitely good to get rid of your debt as fast as possible!
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