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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( L4 d6 D$ N& ]9 I* t2 W
yuz967 发表于 2010-7-8 08:14 
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: b; N* s* d2 {& e+ n3 |/ G5 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+??%.
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Normally 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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