 鲜花( 65)  鸡蛋( 0)
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发表于 2010-7-8 08:49
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what is the difference for 5年浮动 close and open, how to calculate 罚金, thanks, ?3 Z7 C% a0 ]1 f3 A! Y, g8 u+ R
yuz967 发表于 2010-7-8 08:14  3 u: m& X: t7 N. o. P
& l; G9 I, e6 a H4 w5 years variable closed rate mortgage means the term is 5 years, if you paid it off earlier, you may be charged 3 months interest amount as the penalty; rate is P- ??% depends the different lender; 5 years variable opened mortgage - you can pay it off anytime without any penalty, but the rate is P+??%.( P3 E" Y8 n% I: X4 N7 B
! F- |4 r# p$ E# G$ DNormally if you purchase the property and plan to live in there for longer term, you better select the closed term; but if you plan to flip over the property(buy then sell in the short period ), the opened term might be suitable for you. |
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