Let's Take a Closer Look At Your Loan or Mortgage
Before |
After |
|
Housing Loan |
RM250,000 |
RM250,000 |
Interest Rate |
6% p.a. |
6% p.a. |
Repayment Period |
30 Years |
15 Years |
Total Payments |
RM540,000 |
RM380,000 |
".....a 30 year loan is reduced to about 15 years that sharply cuts the amount of interest you pay during the life of the loan.....on a RM250,000, 30 year loan..... you'd cut the interest.....a Savings of RM160,000. Also.....you'd build up more equity earlier."
Debt Comparison
Interest Savings Earned Using MRP!
BEFORE MRP AFTER MRP
Equity Over Time
Installment Paid In |
Actual Principal Paid |
|
5 Years |
RM90,000 |
RM17,336.61 (only 6%) |
15 Years |
RM270,000 |
RM72,389.65 (only 29%) |
23 Years |
Still owe 41% of what you have borrowed |
|
The Debt Burden
