Free Advice/Discussion on Bank Mortgage loan

Unbiasedsg_

Senior Member
Joined
Dec 31, 2018
Messages
1,086
Reaction score
4
Sorry to bump up old post....
Does it means settling the progressive payment from our own pocket rather than taking loans for the next 3 years?
Yes, if you have sufficient resources around, like few hundred thousand cash, then settling the progressive payment could be a viable option. If not, I believe most property owners especially the younger generation will require a loan to acquire a property in Singapore.

Regardless of which floating package you go for, there are bound to be changes, hence you will need to evaluate each floating package (SIBOR, Board rate, Fixed deposit) and how the market has response/feedback to it.

Once you have done your calculated risk/ due diligence, stick with it until the loan is fully disbursed to avoid unnecessary penalty for the undisbursed amount. Upon full disbursement, re-evaluate what the market has to offer, especially when your project has TOP, fixed rate package will be made available to you.

If you still require further assistance, do PM us, we endeavour to assist you in every way we can bro.
Good luck!
 

huatkia

Member
Joined
Mar 21, 2007
Messages
400
Reaction score
2
DBS offered me 2 years fixed 2.6% rate for repricing. Not so attractive. Got outstanding loan of 615k. Any better fixed rate offer?
 

Flex11

Master Member
Joined
Oct 4, 2002
Messages
3,174
Reaction score
0
DBS offered me 2 years fixed 2.6% rate for repricing. Not so attractive. Got outstanding loan of 615k. Any better fixed rate offer?

Mine worse. Just called OCBC,their reprice rate for me is 2yrs fixed @ 2.68% for loan size of 630k :s22::s22:
 

Unbiasedsg_

Senior Member
Joined
Dec 31, 2018
Messages
1,086
Reaction score
4
i thought mine was bad lol

using fdmr36
We highlighted to several of our clients that the FDMR36 is super low, and the FHR8 will be a better option as it's quite close to market rate.

Even the current FDMR36 at 1.22% is still low compared to many other banks.
 

ianndaisy

Junior Member
Joined
Jul 14, 2015
Messages
49
Reaction score
0
Any good reprice/refinance package to share?

We are currently on UOB 0.93+FDHR36M
The FDHR36M was 1.0% and is increased to 1.65% recently which means
our loan interest rate will be 2.58% then.

I get two package from UOB

a) two year fixed at 2.58%
2) MR + 1.45% currently 2.30%

One of other guy suggest me to change to SIBOR now. The package is 1M SIBOR + 0.2*% which is 2.0* now

Is it good to switch to SIBOR. Currently the rate is good. But not sure if it will increase soon. My wife feels insecure that SIBOR is changing every month...
 

Unbiasedsg_

Senior Member
Joined
Dec 31, 2018
Messages
1,086
Reaction score
4
We are currently on UOB 0.93+FDHR36M
The FDHR36M was 1.0% and is increased to 1.65% recently which means
our loan interest rate will be 2.58% then.

I get two package from UOB

a) two year fixed at 2.58%
2) MR + 1.45% currently 2.30%

One of other guy suggest me to change to SIBOR now. The package is 1M SIBOR + 0.2*% which is 2.0* now

Is it good to switch to SIBOR. Currently the rate is good. But not sure if it will increase soon. My wife feels insecure that SIBOR is changing every month...
Yes SIBOR can get volatile at times, but it is also the most transparent one. You get to enjoy savings if the interest drop, however if its board rate or fixed deposit, i think unlikely there will be any changes if interest goes down. But if interest goes up, with high certainties, the interest will definitely move up.

The 1M SIBOR + 0.2*% you mentioned, is it from CIMB? Be mindful of the year 2 and year 3 rates, it gets higher and higher.

You should be looking at this package instead bro.

SIBOR PACKAGE
Year 1 : SIBOR + 0.25%
Year 2: SIBOR + 0.25%
Year 3: SIBOR + 0.25%
Thereafter : SIBOR + 0.65%

Benefits:
1) 1-time Free conversion, exercisable after 24 /36 months from 1st loan disbursement

2) Cash incentive $1000 (For loan $200k to $499k)
Cash incentive $2000 (For loan above $500k)
Cash incentive $2.5k (For loan above 1.5m)
For refi only

3) isetan voucher
Loan below 800k - $280
Loan below 1.5m - $480
Loan above 1.5m - $680

4) Up to S$1000 Takashimaya vouchers from us.

If you interested, please PM us for more info.
 
Last edited:

Marimo1234

Junior Member
Joined
Feb 24, 2019
Messages
1
Reaction score
0
Dear All

Would like to hv a quote to refinance private hoz loan expires May.
Currently, is DBS fix 1.99 FHR18 plan expire May.


I got offer refinancing at 2.6% fix 2 years, not sure have a better option with others bank? Considering my loan balance of 480k, will saving be good to waive off legal fee etc?

Possible to PM me, i can not PM due to less than 10 posts.
 
Last edited:

KaiserBreath

Senior Member
Joined
Feb 22, 2005
Messages
797
Reaction score
45
I got 2 questions.

1. If I only need to loan 100k, is hdb loan better or bank loan better?

2. In the case of 100k, is it better to pay more per month to quickly finish the loan and incur less interest from the loan, or pay slower so I can earn more interest in CPF at 2.5%?
 

huatkia

Member
Joined
Mar 21, 2007
Messages
400
Reaction score
2
Anyone knows what's the best floating rate available now in the market and which bank offer it? I only got 2.05% best offer currently.
 

xtwis7

Arch-Supremacy Member
Deluxe Member
Joined
Oct 13, 2006
Messages
21,856
Reaction score
587
If you can take HDB loan and it’s only $100k, HDB for sure will be better since now bank loan is so close to HDB.

Bank might not be even keen to loan for $100k since they earn less interest.

I got 2 questions.

1. If I only need to loan 100k, is hdb loan better or bank loan better?

2. In the case of 100k, is it better to pay more per month to quickly finish the loan and incur less interest from the loan, or pay slower so I can earn more interest in CPF at 2.5%?
 

kaydoubleyou

Junior Member
Joined
Feb 25, 2019
Messages
1
Reaction score
0
Hi,

I have an outstanding loan of about 300k and currently on hdb loan. Would like to find out more, pls pm me as I have less than 10 post so I am unable to pm you. Thanks!
 

Unbiasedsg_

Senior Member
Joined
Dec 31, 2018
Messages
1,086
Reaction score
4
Anyone knows what's the best floating rate available now in the market and which bank offer it? I only got 2.05% best offer currently.
building under construction (BUC) or completed project?
for BUC is 1.95%
completed is 2.03%
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top