Abbvs in Taiwan

[GooseEgg]

HIBOR+ = HK Interbank Offered Rate

The Hong Kong Interbank Offered Rate, known by its abbreviation HIBOR, is the benchmark interest rate, stated in Hong Kong dollars, for lending between banks within the Hong Kong market. The HIBOR is a reference rate for lenders and borrowers that participate directly or indirectly in the Asian economy

Referenced: The “requirement” to buy property - Taiwan / Living in Taiwan - Forumosa

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ARM = Adjustable Rate Mortgage 可調利率抵押

An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. With an adjustable-rate mortgage, the initial interest rate is fixed for a period of time. After this initial period of time, the interest rate resets periodically, at yearly or even monthly intervals. ARMs are also called variable-rate mortgages or floating mortgages
Adjustable-Rate Mortgage (ARM) Definition (investopedia.com)

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References

The "requirement" to buy property

I had a 30yr fixed for my first property purchase because that was what everyone said you should do (and I didn’t know any better at the time) …but how many people actually live in the same house for 50 yrs? I suppose it’s not a small number (and probably higher in Taiwan than US?). But my record is 4 yrs. Maybe tt might make sense now with US mortgage rates so low If you plan on living in a house less than 4 yrs you should probably just rent because no matter what type of loan you get esp…

The "requirement" to buy property

30yr fixed refers to the time that the interest rate is locked in. A 5yr ARM would be a lower rate but only guarantees the rate for 5yrs but the term is still 30yrs

The "requirement" to buy property

It is absolutely correct, have you ever looked at the Amortization schedule of a 5yrARM 15 year Fixed and 30/Yr Fixed Mortgage while comparing interest rates?

The "requirement" to buy property

Of course I have And yes, at the beginning most of your payment goes to interest. Sorry, I edited my original post for further clarification

The "requirement" to buy property

30yr fixed refers to the time that the interest rate is locked in. A 5yr ARM would be a lower rate but only guarantees the rate for 5yrs but the term is still 30yrs I’d just be happy to get one. Picking and choosing seems to be off the menu for us here in Taiwan.