Pay down housing loan with CPF

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Thinking of using your CPF to pay down your housing loan? Some mortgage advisors will suggest doing it when the prevailing housing interest rate is more than 2.5% p.a. Is this correct? Before we answer the question, let’s look at the interest rates in details. CPF Interest Rates For ordinary account (OA), CPF members will […]

How to compare HDB loan to commercial bank loan

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In Singapore, most home owners start off with owning a HDB flat before upgrading to a private apt. And a good percentage of owners will take up a mortgage with HDB. With bank interest rates at a low now, should home owners switch to a bank loan? HDB loan The HDB concessionary interest rate is […]

How to start your refinance

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Thinking of refinancing and not sure how to start? Here’s a step by step guide to evaluate your current mortgage. Check your terms What interest rates are you paying for your mortgage? How much is your monthly instalment? If your interest rate is a floating rate, you may want to consider switching your interest rates […]

Bank Clauses in Housing Loans

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Most purchasers of property in Singapore rely on the bank to help finance the purchase of their dream home, office, shop or warehouse. In exchange for the money from the bank to buy that dream property, owners mortgage their properties to the bank. This relationship between the property owner and the bank usually lasts 20, […]

Fixed or Variable Interest Rate, when is the best time?

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Borrowers are always wondering when the best time to take up a fixed interest rate package. Fixed rates are generally higher than variable rates to take in account possible rises in the lending rates. When a borrower takes a fixed rate, he is predicting that the variable rate will rise above the fixed rates. Fixed […]

6 Ways to pay off your mortgage fast

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You have bought your dream house and now its time to pay it off. Here are some tips on how to pay off your loan faster. 1. Make frequent partial repayment When you make partial repayment to your loan, you are actually paying off your principal. This will help you to save thousands of dollars […]

Factors affecting loan repayment

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Most people cannot afford to pay for their property purchase outright with their savings and will usually need a bank loan to finance their purchase. The factors that affect a housing loan are: interest rate, tenure and penalty. Interest Rate Lets look at the table below to see how interest rate will affect your monthly […]

Home Loan Types

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There are various home loan packages in the market. Before you sign up for the package, you should use a mortgage calculator as a guide to how much your repayments will be. HDB loan HDB provides housing loans at concessionary interest rate to eligible HDB flat buyers. The HDB concessionary interest rate is pegged at 0.1% […]

 
 
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