A comment by Andy from Tacomob in a previous post on HDB loans led to this post. I was sufficiently intrigued to try and dig out my calculations from 5 years ago. Unfortunately, they are nowhere to be found. Heck, so I made new ones! This time, I cheated by using a financial calculator app, though.

Sidetrack a little for now – I saw this post yesterday on buying a first home and the considerations that went into it. In particular, I was interested in this part that goes –

For example, if we had opted for a $300,000 loan over 25 years, the total amount that we would have paid inclusive of our interest would be: $408,300. That means the interest alone would be $108,300! On the other hand, if we had opted for the same loan over 15 years, the total amount that we would have paid would …