Posted by
C
19 yrs ago
Majority of banks offer Prime based mortgages as I'm aware, but at least BoA offers Hibor-based mortgage product. Anyone had any experience with this? Pro's and cons of being Hibor-based?
thanks for input.
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crj
18 yrs ago
We have been offered the below from BEA:
1. P-3.15% (2 years) & P-3% thereafter
2 years penalty Full: 3%, 2%
Partial: @$500.-
Handling fee: $1,000.- (recommended to waive)
2. 1 month / 3 months Hibor+0.5% (3 years) & Hibor+0.6% thereafter & ceiling capped p-2.8%
2 years penalty Full: 2%, 1%
Partial : 0.5%
Handling fee $1,000.-
Currently, HIBOR is 4%, which makes the HIBOR option very attractive, but if HIBOR goes up to 5%, then being attached to P -3 is much more attractive.
What are the benefits and risks of opting for a HIBOR based mortgage?
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crj
18 yrs ago
I just learned DBS has a better offer than BEA!
P-3.0 or HIBOR + 0.55 - whichever amount is lower each month.
Capped at P-3.0.
And it comes with a cash rebate.
That solves the whole decission making problem!
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