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U want to reduce monthly repayment amount or total repayment amount?
If reduce monthly repayment amount, u will need to refinance to longer loan tenure. Yr total repayment will b higher.
If reduce total repayment amount, vice versa. Refinance to shorter loan tenure and do partial repayment, monthly repayment will increase but total repayment reduced.
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Pang Zhe Liang
21 Jan 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
In general, there are three ways to reduce the monthly repayment for your mortgage:
- Reduce the i...
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Given that interest rates are low at the moment, it might make sense to refinance your existing home loan. Before you do, we recommend reviewing the details of any refinancing offers and looking into any fees associated with refinancing.