BinaryLion ๐Ÿฆ๐ŸŒ

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BinaryLion ๐Ÿฆ๐ŸŒ

BinaryLion ๐Ÿฆ๐ŸŒ

@TheBinaryLion

Founder and Building @GrapefruitPTY | Tech Enthusiast | I sometimes make music | Tweets do not represent my Employer or Clients

Southern Africa ๐Ÿ‡ฟ๐Ÿ‡ฆ๐Ÿ‡ง๐Ÿ‡ผ๐Ÿ‡ฟ๐Ÿ‡ผ Katฤฑlฤฑm Ekim 2011
735 Takip Edilen566 Takipรงiler
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Manchester United
Manchester United@ManUtdยท
It's official: Bruno Fernandes is the best player in the Premier League ๐Ÿ‘
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#Rele๐Ÿ10๐Ÿดโ€โ˜ ๏ธ
Thereโ€™s a colleague who put the arsenal jersey on his desk ๐Ÿ˜ญ Orlando Pirates must do something, I also want this excitement ๐Ÿ˜๐Ÿ’€
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Mashudu Modau
Mashudu Modau@Mashstartupยท
@TheBinaryLion I might just make a reappearance with this one ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚
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Ja Leto
Ja Leto@_falsi1keยท
MEN should ALSO be TAUGHT not to ACCEPT the BARE MINIMUM from WOMEN ๐Ÿ’ฏ
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Ulrich Janse van Vuuren
Ulrich Janse van Vuuren@UlrichJvVยท
This Joburg sunset makes me so happy! Have a great weekend! ๐Ÿคฉ๐Ÿ‚๐Ÿ“ธ
Ulrich Janse van Vuuren tweet media
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BinaryLion ๐Ÿฆ๐ŸŒ
BinaryLion ๐Ÿฆ๐ŸŒ@TheBinaryLionยท
I love tech but constantly annoyed by these Silicon Valley / San Francisco bros on this app๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ
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Michael Seibel
Michael Seibel@mwseibelยท
@ClaudeBixby1 Iโ€™m saying in the A/B tests of how to organize society - we tried communism. Therefore we tried some pretty extreme experiments. Not saying you are advocating for communism.
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Mashudu Modau
Mashudu Modau@Mashstartupยท
We should think more seriously about what we choose to build. Pushing people into debt, fuelling gambling addiction, and feeding endless dopamine loops cannot be the highest use of our talent and ambition.
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Koshiek Karan
Koshiek Karan@iamkoshiekยท
exactly 10 years ago โฐ I was a newly minted investment banking associate experiencing New York for the first time especially in your 20s โ€” stay shooting your shot!! ๐Ÿ€๐ŸŽฏ youโ€™re always one breakout opportunity away from changing your life forever
Koshiek Karan tweet mediaKoshiek Karan tweet mediaKoshiek Karan tweet mediaKoshiek Karan tweet media
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Premier League
Premier League@premierleagueยท
Champions League qualification secured for 2026/27 ๐Ÿ† Congratulations, @ManUtd ๐Ÿ”ด
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David (TalkingCents)
David (TalkingCents)@talkcentssยท
The ๐—ฑ๐—ฒ๐—ณ๐—ฒ๐—ฟ๐—ฟ๐—ฒ๐—ฑ ๐—ฝ๐—ฟ๐—ถ๐—ป๐—ฐ๐—ถ๐—ฝ๐—ฎ๐—น ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜† is a debt trap for young professionals. โ€ผ๏ธ๐Ÿšจ Itโ€™s been framed as โ€œ๐—ต๐—ผ๐˜„ ๐—ฐ๐—ฎ๐—ป ๐˜„๐—ฒ ๐—ต๐—ฒ๐—น๐—ฝ ๐˜†๐—ผ๐˜‚โ€ but really it is โ€œ๐—ต๐—ผ๐˜„ ๐—ฐ๐—ฎ๐—ป ๐˜„๐—ฒ ๐—ต๐—ฒ๐—น๐—ฝ ๐—ผ๐˜‚๐—ฟ๐˜€๐—ฒ๐—น๐˜ƒ๐—ฒ๐˜€โ€ I say this because if they really wanted to help, ๐˜๐—ต๐—ฒ ๐—ณ๐—ถ๐—ฟ๐˜€๐˜ ๐˜๐˜„๐—ผ ๐˜†๐—ฒ๐—ฎ๐—ฟ๐˜€ ๐—ผ๐—ณ ๐—ฝ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ด๐—ผ ๐—ฒ๐—ป๐˜๐—ถ๐—ฟ๐—ฒ๐—น๐˜† ๐˜๐—ผ โ€œ๐—ฐ๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—นโ€ ๐—ฎ๐—ป๐—ฑ ๐—ป๐—ผ๐˜ โ€œ๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜โ€ โ€”โ€”- Let me explain: The first two years go towards only repaying the interest portion on your home loan and not the capital. (๐—ง๐—ต๐—ฒ ๐—ฏ๐—ฎ๐—ป๐—ธ ๐—ถ๐˜€ ๐—ฑ๐—ฒ๐—น๐—ถ๐—ฏ๐—ฒ๐—ฟ๐—ฎ๐˜๐—ฒ๐—น๐˜† ๐˜€๐˜๐—ฟ๐˜‚๐—ฐ๐˜๐˜‚๐—ฟ๐—ถ๐—ป๐—ด ๐—ฝ๐—ฟ๐—ผ๐—ฑ๐˜‚๐—ฐ๐˜๐˜€ ๐—ฎ๐—ฟ๐—ผ๐˜‚๐—ป๐—ฑ ๐—ฐ๐—ผ๐—ป๐˜€๐˜‚๐—บ๐—ฒ๐—ฟ๐˜€โ€™ ๐—บ๐—ถ๐˜€๐˜‚๐—ป๐—ฑ๐—ฒ๐—ฟ๐˜€๐˜๐—ฎ๐—ป๐—ฑ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐—ฎ๐—บ๐—ผ๐—ฟ๐˜๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป). With standard home loans, your monthly bond payment is split into two portions: 1๏ธโƒฃPrincipal 2๏ธโƒฃInterest For example, on a R1 million home loan at 10% over 20 years, your monthly payment would be R9,650, which is split like this: 1๏ธโƒฃPrincipal = R1,316.88 2๏ธโƒฃInterest = R8,333.33 ๐—ข๐˜‚๐˜๐˜€๐˜๐—ฎ๐—ป๐—ฑ๐—ถ๐—ป๐—ด ๐—ฎ๐—บ๐—ผ๐˜‚๐—ป๐˜ = ๐—ฅ๐Ÿต๐Ÿต๐Ÿด,๐Ÿฒ๐Ÿด๐Ÿฏ โ€”โ€”โ€” However, with the deferred principal strategy that FNB is using, it means you only have to pay the 2๏ธโƒฃ interest portion on your home loan every month for 24 months. (R8,333) That means your monthly payment falls from R9,650 โ€”โ€”>R8,333, increasing your cashflow. ๐—•๐˜‚๐˜ ๐˜†๐—ผ๐˜‚๐—ฟ ๐—ผ๐˜‚๐˜๐˜€๐˜๐—ฎ๐—ป๐—ฑ๐—ถ๐—ป๐—ด ๐—ฑ๐—ฒ๐—ฏ๐˜ ๐˜„๐—ถ๐—น๐—น ๐˜€๐˜๐—ถ๐—น๐—น ๐—ฏ๐—ฒ ๐—ฅ๐Ÿญ ๐—บ๐—ถ๐—น๐—น๐—ถ๐—ผ๐—ป. For this privilege of keeping your debt the same, you save R1,317 month (R15,804 a year). โ€”โ€”โ€” *After the two year โ€œgrace periodโ€ your 20 year home loan is compressed into 18 years and the loan reverts back to a standard home loan. Now you have a R1 million home loan at 10% (Or whatever the prevailing rate is) over 18 years. So the breakdown would now be: Monthly = R9,998 1๏ธโƒฃPrincipal = R1,665.10 2๏ธโƒฃInterest = R8,333.33 ๐—ข๐˜‚๐˜๐˜€๐˜๐—ฎ๐—ป๐—ฑ๐—ถ๐—ป๐—ด ๐—ฎ๐—บ๐—ผ๐˜‚๐—ป๐˜ = R998,334 (25 months in) โ€”โ€”โ€”- Under a standard 20 year home loan agreement, you would pay back: โœ…R2.31 million (R1.31 million interest) โ€”โ€”- Under FNB principal deferred structure, where they compress it into 18 years after the two year โ€œgrace periodโ€ you would pay back โœ…R2.35 million (R1.35 million interest ) You pay back roughly R43,610 more than a standard home loan, however, the article does not mention if the loan would be compressed into 18 years after the two year โ€œgrace periodโ€ or if it would be an additional 20 years after the 2 year โ€œgrace periodโ€, in that case costs can rise by at least R200,000 more.
David (TalkingCents) tweet media
News24 ๐Ÿ‡ฟ๐Ÿ‡ฆ@News24

SPONSORED: FNB launches South Africa's first interest-only home loan for under-35s, allowing graduates and young professionals two years of reduced repayments with loans up to 110% of property value. news24.com/brandstory/parโ€ฆ

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