Free Advice/Discussion on Bank Mortgage loan

TAKASHIS

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Hi Unbiased mate,

I’m looking to refinance my existing home mortgage ($1mil over 25 yr), would you have the best offer of both FHR and Sibor-referenced package to recommend? Let’s say with 2yr lock-in period.

Thanks for your advice in advance.
 

Unbiasedsg_

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Hi Unbiased mate,

I’m looking to refinance my existing home mortgage ($1mil over 25 yr), would you have the best offer of both FHR and Sibor-referenced package to recommend? Let’s say with 2yr lock-in period.

Thanks for your advice in advance.
The FHR is higher than the fixed rates bro.
Maybe you should consider either SIBOR or fixed packaged instead.

We have curate some compelling options for your kind consideration:-

LOWEST FLOATING RATES (OPTION 1)
B) Credit Card Bundle Package
Credit card + (fulfil either 1 out of 3) Show 350k / Min loan $1mil / Annual income > $120k
Year 1 : 1m SIBOR + 0.20% (Total 1.94%)
Year 2 : 1m SIBOR + 0.20% (Total 1.94%)
Year 3 : 1m SIBOR + 0.20% (Total 1.94%)
Thereafter : 1m SIBOR + 0.6% (Total 2.34%)

C) Privilege Banking Package (Deposit $250k to onboard as privilege banking account)
Year 1 : 1m SIBOR + 0.15% (Total 1.89%)
Year 2 : 1m SIBOR + 0.15% (Total 1.89%)
Year 3 : 1m SIBOR + 0.15% (Total 1.89%)
Thereafter : 1m SIBOR + 0.6% (Total 2.34%)

Legal subsidies* at 0.25% of loan amount (*minimum $500k loan and above.)

- Beautiful Sunday(NO interest on every Sunday for the first 6 months) for completed property only

- no partial prepayment penalty. Min repayment amount is $10k and multiple $k, every 3 months once by giving 1 month notice.

- 1 time free conversion from 3 months of the free from lock in period

- 50% reimbursement of penalty due to sale if new loan accepted within 6 mths from the existing loan completion date (new loan amount need to be more or equal to the redeemed loan amount)


LOWEST FIXED RATES (OPTION 2) (Min.$600k)
2 Year Fixed Rate 1.82% (FIXED rate with 2 years lock in)
Year 1: 1.82%
Year 2: 1.82%
Thereafter: FHR8+1.03%
Free Conversion After Lock In Period
Waiver Due To Sale
 

and_who

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Just want to say thank you for all the free advice you have provided in this thread. ;)

Search your conscience, I'm providing my analysis and knowledge here which I believe one way or another help members of the forum here.
Is it because that I'm more responsive or vocal here so I'm subjected to you and have to spoon feed you every information?
What you're seeing here is selective contribution from members here, anything you seen, is your additional gain of knowledge or information for free.
One should not expect anything from another as no one owes you a living, whether the person sharing has a vested interest or not does not determine that he or she is to be subjected to you. If you expect something, work for it and take it. If it's given out for free, don't demand further as if you deserve it.

Bro.. i support u for the info & effort that u've contributed to this forum
sometimes we just hav to ignore negative ppl .. they r basically everywhere in tis world.

thanks.

hope all the dumb sheep following this idiot (who ran road) enjoy your OHR being increased by more than 1% in a few months and all the controversy created. https://forums.hardwarezone.com.sg/money-mind-210/ocbc-ohr-anyone-else-misled-6116152.html
 

Unbiasedsg_

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hope all the dumb sheep following this idiot (who ran road) enjoy your OHR being increased by more than 1% in a few months and all the controversy created. https://forums.hardwarezone.com.sg/money-mind-210/ocbc-ohr-anyone-else-misled-6116152.html
That’s why we have never recommended board rates to any of our clients.

I feel for some of the clients, they have claimed they were misled that it’s fixed rates only to find out it’s actually an internal board rate after numerous of increment.
 

mrwirus

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Hi unbiasedsg.. able to pm me your contact? Would like to find out more about bank loan for my hdb thanks.
 

gf133rew

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I have a 25 year HDB loan with 240k+ outstanding balance. Any good loans to offer? Unbiasedsg could you send me the spreadsheet too please? Thanks!
 

Patapon2

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Bank Loan Re-pricing

Hi Unbiased, I'm also looking for bank loans for my BUC for re-pricing/re-financing. Can let me know what is good in the market currently?

Thanks!
 

Unbiasedsg_

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Hi Unbiased, I'm also looking for bank loans for my BUC for re-pricing/re-financing. Can let me know what is good in the market currently?

Thanks!
If your property has not TOP/CSC, i reckon to stay with your current bank. (p.s. there is penalty for refinancing before your property TOP/CSC. even if there is no locked in)
 

sunyay

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Looking at the local bank (like DBS fixed rate)
Should I go for 1.84% locked in 2 years.. Or 2% locked in 5 years? Buying resale need about 300k loan.
Anyway unbiased can you send me info as well? Appreciate if anyone can advised if there's better rates than 1.84% fixed rate. Thanks.
 

dnsfpl

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Looking at the local bank (like DBS fixed rate)
Should I go for 1.84% locked in 2 years.. Or 2% locked in 5 years? Buying resale need about 300k loan.
Anyway unbiased can you send me info as well? Appreciate if anyone can advised if there's better rates than 1.84% fixed rate. Thanks.

im going for 2 years locked in
 

dnsfpl

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why would anyone do partial payment when the loan interest rate is lower than cpf rate :s11:
 

NiShiZhu

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why would anyone do partial payment when the loan interest rate is lower than cpf rate :s11:

During Low interest rate environment, I always like to gear up my loan tenure so as to keep more cash for other investment.
During high interest rate environment, I would shortened the loan tenure and pay as much principal as possible. If my property is of Low quantum, sometimes I would choose to pay off everything.
 

Unbiasedsg_

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During Low interest rate environment, I always like to gear up my loan tenure so as to keep more cash for other investment.
During high interest rate environment, I would shortened the loan tenure and pay as much principal as possible. If my property is of Low quantum, sometimes I would choose to pay off everything.
Good breakdown!

There are even clients who loan extra as their property value has increased. (They do it for various reasons, e.g. such as investment or business cash flow).
 

NiShiZhu

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Good breakdown!

There are even clients who loan extra as their property value has increased. (They do it for various reasons, e.g. such as investment or business cash flow).

Yes, equity loan. Was tempted to do it when interest rate was Super Low during the last decade.
 

Unbiasedsg_

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Yes, equity loan. Was tempted to do it when interest rate was Super Low during the last decade.
Apparently we are revisiting this ultra low interest region again.
If not for the cooling measures, (especially the ABSD) I reckon there will already be a buying frenzy.
 

ravi2653

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Hi Unbiased,

I’m looking to refinance my existing home loan of $800k+ for 20 years. What will be few good options for me? Fixed or variable

Thanks a lot.
 

Unbiasedsg_

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Hi Unbiased,

I’m looking to refinance my existing home loan of $800k+ for 20 years. What will be few good options for me? Fixed or variable

Thanks a lot.
Sure Ravi, PM dropped.

FYI, the current leading SIBOR pegged package:-

LOWEST FLOATING RATES
A) Standard Package
Year 1 : 1m SIBOR + 0.25% (Total 1.99%)
Year 2 : 1m SIBOR + 0.25% (Total 1.99%)
Year 3 : 1m SIBOR + 0.25% (Total 1.99%)
Thereafter : 1m SIBOR + 0.6% (Total 2.34%)

B) Credit Card Bundle Package
Credit card + (fulfil either 1 out of 3) Show 350k / Min loan $1mil / Annual income > $120k
Year 1 : 1m SIBOR + 0.20% (Total 1.94%)
Year 2 : 1m SIBOR + 0.20% (Total 1.94%)
Year 3 : 1m SIBOR + 0.20% (Total 1.94%)
Thereafter : 1m SIBOR + 0.6% (Total 2.34%)

C) Privilege Banking Package (Deposit $250k to onboard as privilege banking account)
Year 1 : 1m SIBOR + 0.15% (Total 1.89%)
Year 2 : 1m SIBOR + 0.15% (Total 1.89%)
Year 3 : 1m SIBOR + 0.15% (Total 1.89%)
Thereafter : 1m SIBOR + 0.6% (Total 2.34%)

Legal subsidies* at 0.25% of loan amount (*minimum $500k loan and above.)

- Beautiful Sunday(NO interest on every Sunday for the first 6 months) for completed property only

- no partial prepayment penalty. Min repayment amount is $10k and multiple $k, every 3 months once by giving 1 month notice.

- 1 time free conversion from 3 months of the free from lock in period

- 50% reimbursement of penalty due to sale if new loan accepted within 6 mths from the existing loan completion date (new loan amount need to be more or equal to the redeemed loan amount)
 
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