Before taking a home loan

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You should consider 1. Shopping around – Shop around and compare packages to find the best deal. Do not be enticed into making hasty decisions based on agent recommendation, time pressure, gifts or special tied up rates offered by bankers in the show flats. 1a. Will I be better off if I use the services […]

How to choose a mortgage broker

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Ten years ago there are only a handful of mortgage brokers in Singapore. Today, you will be able to find more than 20 brokers online and they are still expanding. Some are setup by ex-bankers, estate agents, insurance agents and entrepreneurs. With so many choices, how do you choose? What are the roles of mortgage […]

Maximising your mortgage by refinance

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Refinancing your mortgage can make a big difference in your finances. When the lock-in period of your mortgage ends, think about refinancing. Most banks charge a penalty if your repay within 2 years for floating rate and 3 years for fixed rate loans. Check your mortgage documents if you are unsure. Refinancing can help you Lower […]

MAS restrict loan Tenure for Residential Properties

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Singapore, 5 October 2012…The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties. MAS’ move is part of the Government’s broader aim of avoiding a price bubble and fostering long term stability in the property market. 2   The maximum tenure of all new […]

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 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 […]

5 Top reasons to refinance your home loan

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There are many compelling reasons to refinance your home loan. Here are the top five: 1. Lower your monthly payment You can lower your monthly payment by lowering your interest rate and/ or stretching out your mortgage tenure over a longer term. For example, you can 2. Lower your interest rate Refinancing to a home […]

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, […]

 
 
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