Owning a house is one of the dreams of a Singaporean. However, having the financial means to actually own one is not as easy as it sounds. With the appreciation of house prices in recent years, it makes good decent sense to see your house as not just a house. But also as an investment.
Unless you are cash rich to the extent that your bank account is not big enough to contain all your money, you will probably need a house loan in Singapore to purchase your dream house.
Don’t let the hassle of finding a house loan in Singapore bother you.
While you are out at work or going about your daily activities, we will be assisting you to obtain the most suitable house loan for your needs. Your toughest job is from choosing between the best house loans in Singapore that we have compiled for you.
The best part is that our services are at no charge to you. We are compensated separately by the house loan lender.
We will give you a breakdown of what is available in the house loan Singapore market and the latest Singapore house loan promotional deals from the many different housing loan lenders.
A house loan can be a decision that will affect you for the next 20 to 30 years. Make an informed decision with valid information instead of leaving your choice of house loan to chance.
Find out about the latest deals on house loan in Singapore now. Our database of most updated home loan rates in Singapore is proudly powered by housingloansingapore.com
SIBOR rate Singapore is the interest rates at which banks and financial advisors and institutions lend to one another. When a supermarket sells you groceries like a packet of rice to you, they sell it at a retail selling price. They in turn had earlier purchased the inventory at a cost price or wholesale price from a supplier. SIBOR is the wholesale price that banks and financial institutions buy money (their inventory) to sell it to you at a retail price.
Consider that for a consumable product, the supply chain consist of raw material producers to manufacturers to wholesalers to retailers, and finally to end consumers. So when you are looking at a SIBOR pegged deal while comparing Singapore home loans, the supply chain for your house loan can look like this.
Continue reading “SIBOR Rate Singapore Without Chart History – What Affects SIBOR Interest Rates”
Loan-to-value (LTV) is basically a notion used to describe the loan amount a mortgage lender is willing to offer you based on the value of the property. When calculating loan to value, It is common practice to replace the property value with the buying price if the buying price is lower than the property value. These circumstances can occur when the seller is in a hurry to sell of his piece of real estate, the property in question had faced foreclosure due to defaults, etc.
Continue reading “Loan To Value Singapore – Going Higher With LTV”
There is a general perception that a home loan pegged to the SIBOR is a stable deal with less risks involved. However, if you have decided on a home loan benchmarked to the SIBOR, there are some things that you should be aware of.
SIBOR fluctuates as well. Although it is more stable in that it fluctuates with much less volatility, tracking SIBOR rate history shows that it hit 9.5% in 1998. That is astronomically higher than current SIBOR rate today. So even though it is generally accepted that home loans pegged to SIBOR instead of SOR (Swap) are more stable, do not ignore the fact that interest rates are influenced by the greater economy and market sentiments.
Continue reading “Is SIBOR Safer Than SOR (Swap)?”
To save you from uncertainty over your house loan after you have committed yourself to buy a house, you can obtain a pre-approved house loan. The availability of pre-approved house loans is something that is often overlooked by home buyers.
Continue reading “How Can I Obtain A Pre-Approved House Loan?”
The topic of credit score is becoming more popular as the public is educated on managing their finances. This has been a much less discussed topic from years ago. Because of the US mortgage situation some years back, more people are now aware of good and bad credit house loans. And since it has shown that even the biggest of players can get into trouble, lenders are becoming more careful in approving house loans. Your credit score can somewhat judge your financial conduct and level of responsibility.
Continue reading “What Is Credit Score? And How Does It Affect My House Loan?”
This is a question that most people do not give enough consideration to. Most individuals will inevitably want to get the highest loan quantum possible for their house loan Singapore. The right way to ask this question is to ask yourself. A house loan Singapore lender can only assess your finances and judge how big a loan quantum you should be able to handle without compromising your lifestyle and other commitments. They are unable to tell you how much of a loan you can afford. This can be made even more complicated when there are private arrangements between you and your family members to repay the house loan. e.g. your parents have privately agreed with you to help repay the mortgage in the initial few years.
Continue reading “How Much House Loan Singapore Can I Afford?”
There is fierce competition among banks for their share of the Singapore house loan market. House loan Singapore lenders are constantly coming up with new packages to attract people who are seeking out house loans in Singapore. Some deals are so attractive that your choice is made up as soon as you put everything down and do a housing loan comparison.
The best house loan Singapore package is not always the one with the best interest rates. It is one that meets your needs as the home owner. It takes into account your current and future financial position so that you will not one day find that your home mortgage is a liability you cannot afford.
Here are things you should consider in a Singapore house loan
Continue reading “6 Things To Note When Seeking Out A House Loan Singapore”
Most people require a house loan Singapore to purchase a home. You must be cash rich indeed if you don’t require any form of home financing to make your home purchase. If you think that there is no way a bank will turn down your house loan application, think again. Home buyers often run into situations where banks can outright decline their applications. Losing out on the best bank housing loan around in the process.
These are some pointers that you should take note. They can save you thousands of dollars on your mortgage.
1) Being a guarantor for someone else’s home loan
A common way to face financial disaster is to sign on another person’s housing loan. You may become a savior to your relative or best friend by doing this. But if you are already a guarantor for a housing loan, it could be difficult to get one for yourself unless you have a high income. Because a mortgage loan is seen as a significant financial commitment, the lender will be concerned with whether you can afford another one with your current financial commitment.
2) Hiding material information
Sometimes, you may find that some particular information about you that you find embarrassing. This is especially when it is regarding your personal financial position. Remember that the housing loan agent or housing bank loan officer is there to help you obtain a suitable Singapore house loan. And all information required by them helps them to garner a good deal for you.
Continue reading “House Loan Pitfalls To Avoid”