Free Advice/Discussion on Bank Mortgage loan

Fifa2006

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Planning to purchase a property but not sure how much the bank is willing to lend you?
Do an Approval in Principle(AIP) and it will solve your problem
 

Fifa2006

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Confused on which package to take?
Wondering which bank gives you the best package?
Unfamiliar with the terms
1) SIBOR?
2) SOR?
3) fixed?
4) floating ?
Looking to get the best package but still need some advice?

Drop me a message on your situation and Housing Matters will assist you according to your needs :)
 

boeing2000

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Loan eligibility

Hi..could you pls advise on the loan eligibility criteria...I have outstanding personal loans with banks but with a good credit history..
Iam planning to buy an hdb with a 400k bank loan..monthly salary excluding bonus is around 8k+
tks
 

simpmort12

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search which banks is giving you more benefits.

---------
regards,
Simpmort12
free case rebate when finance a loan through simplymortgage.com.sg
 

slang

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Would like to ask if any of you have such experience or anyone can advise on this...

my aunt is planning to buy a pte property. However she is still serving a loan for her HDB flat which she has stayed for about 8 years.

In order to be granted an 80% bank loan of her new pte property, does she has to first sell away her HDB flat?
Is there anyway she can buy Pte property first, and be given a deadline to sell her HDB at a later date so as to be granted 80% bank loan to her new property?
 

Fifa2006

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Hi Slang,

If your aunt is planning to get a 80% loan for her Pte Property, she have 2 options
1) Fully repay her HDB property and obtain a 80% loan for her private property
2) Sell her HDB and obtain a 80% loan.
 

Fifa2006

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Hi Boeing2000,

Shouldnt be a big issue for you. It will be good to get an Approval In Principle from the bank before proceeding with the purchase of your HDB.
 

gohlex

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Hi Fifa2006,

would like to ask, is a hdb co-owner must necessarily be a mortgage loan borrower/co-borrower? (assuming the mortgage loan main applicant's salary is enough to for the required loan amount). or is it hdb co-owner(mortgagor) are always equals to borrower in term of bank loan?

Thanks
 

Fifa2006

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Hi gohlex,

Unlike Private Property, HDB owner/co-owner are required to be the borrower / co borrower of the loan
 

gohlex

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Hi gohlex,

Unlike Private Property, HDB owner/co-owner are required to be the borrower / co borrower of the loan

Hi Fifa2006,

thanks very much for the clarification. appreciate if you could also advice on the following:

if the co-borrower in this case is not using CPF or cash to pay any portion of the monthly installment, he/she will no need to buy any HPS or Mortgage insurance right?

Thanks again.
 

Fifa2006

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Hi Gohlex,
I am not the best person to advice you on Mortgage Insurance just in case i give you the wrong information. If you want, i can get one of my trusted Financial Advisor to get to you else you can get those bank package with mortgage insurance so it will solve your problem :)
 

realconsultant

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Hi fifa2006,

I visited your website...I am confuse.

Are you a property agent , mobile banker or mortgage broker?


thank you.
 

Fifa2006

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Hi Realconsultant,

I am a Mortgage Broker. To enhance my service to my customer, i also obtain property license from a property agency to serve my clients on their properties if they need :)
 

Fifa2006

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As of 05 Sept 2012

1M Sibor : 0.31375
3M Sibor : 0.37917
6M Sibor : 0.43625
9M Sibor : 0.50000
12M Sibor: 0.56750

1M SOR : 0.27719
3M SOR : 0.40453
6M SOR : 0.59847
9M SOR : 0.73496
12M SOR : 0.87080
 

hamdanz

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HDB refinance

Sent a PM but there were no response..

Anyway would appreciate if anybody could advise..

- I am in the process of buying a HDB resale and selling my current HDB. This is a "Buy Now, Sell Later thing".

- My 1st appointment to buy is already over and resale completion will be somewhere in October. I'm taking HDB concessionary loan.

- My 1st appointment to sell will be next week.

What I understand will ultimately happen is that I have to use 50% of my cash proceeds to reduce the loan of my new flat.

What I would like to know whether is it possible to refinance the loan of my new resale using a bank loan, before hdb take my 50% ?

Thanks...
 

ngoost

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Hi,

I'm currently helping my brother looking for bank loan on private property loan amount ~$655k. property Under construction. so far best found is

HSBC 1-3rd year = 0.7+1mth SIBOR, 4th year onwards 1.25 + 1mth.

DBS 1-3rd year = 0.75+1mth SIBOR, 4th year onwards 1 + 1mth.

Pls advise which is the better.
 

Fifa2006

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Hi Hamdanz & ngoost,

I have replied to your private message. Do take a look.
For those with enquires , it will be good if you can drop me an email at den@housingmatters.com.sg to avoid any delay in response. Normally i will only enter into HWZ during my free time but for email, it is directed straight to my mobile
 
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