Free Advice/Discussion on Bank Mortgage loan

[panyb2000]

For 3 local bank, is their home loan info transparent to all? I checked their website, the info cannot tally with icompareloan, and less package as well, don't know how to proceed.

 

[pdpdpdp]

currently it seems that DBS offer the best rate for refinance floating at 1.05+FHR9 thru'out.

 

[MortgageSingapore]

For 3 local bank, is their home loan info transparent to all? I checked their website, the info cannot tally with icompareloan, and less package as well, don't know how to proceed.

walk-in rate vs wholesale rate, you can't expect bank to showhand their rates to everyone.

 

[MortgageSingapore]

currently it seems that DBS offer the best rate for refinance floating at 1.05+FHR9 thru'out.

one of the best. OCBC going at 1.28% too.

 

[bluegum]

one of the best. OCBC going at 1.28% too.

The displayed rates are gng at 1.3%. How to get 1.28%? Thanks.

 

[Storm7979]

Let the price war begin!!!!!

 

[RayOfLight]

hey my house just obtained top a few months back.. I am on ocbc 36m fdmr + 1.03% for first 3 years (1.68%) and there after + 1.5% (2.08%). the existing package looks good, 1.3% for first 3 years and then 1.4%.. I am entitled to covert free within 6 months from top though. is there any other fee that I need to pay for the conversion?

btw the conversion is only back to ocbc right? refinance to another bank I will need to pay other fee right? is it worth it?

 

[MortgageSingapore]

The displayed rates are gng at 1.3%. How to get 1.28%? Thanks.

Deviated rate.

 

[MortgageSingapore]

hey my house just obtained top a few months back.. I am on ocbc 36m fdmr + 1.03% for first 3 years (1.68%) and there after + 1.5% (2.08%). the existing package looks good, 1.3% for first 3 years and then 1.4%.. I am entitled to covert free within 6 months from top though. is there any other fee that I need to pay for the conversion?

btw the conversion is only back to ocbc right? refinance to another bank I will need to pay other fee right? is it worth it?

Have to see what offer they gonna give you.

 

[oogeeoogee]

You gonna call up the banker to see what is the interest rate offer for existing customer converting loan. U will be surprise it is higher than the advertised rate which is only for new client.

hey my house just obtained top a few months back.. I am on ocbc 36m fdmr + 1.03% for first 3 years (1.68%) and there after + 1.5% (2.08%). the existing package looks good, 1.3% for first 3 years and then 1.4%.. I am entitled to covert free within 6 months from top though. is there any other fee that I need to pay for the conversion?

btw the conversion is only back to ocbc right? refinance to another bank I will need to pay other fee right? is it worth it?

 

[tweety_piyo]

Hello just want to check if this situation is possible

Sell a private property to someone below valuation
Assuming valuation is 600k but sell it at remaining loan amount or slightly more
Assuming sell @ 500k, get bank loan for 500k but 20% downpayment given in cash to seller
if like that still need to give the bank offering the loan 20% downpayment?

 

[copy83]

Repricing or refinancing?

My outstanding loan is 120K. with 2.25% interest (SIBOR) with ocbc signed few years back.
I am no longer locked in.

Is it better to do repricing or refinancing?

 

[doody_]

Hello just want to check if this situation is possible

Sell a private property to someone below valuation
Assuming valuation is 600k but sell it at remaining loan amount or slightly more
Assuming sell @ 500k, get bank loan for 500k but 20% downpayment given in cash to seller
if like that still need to give the bank offering the loan 20% downpayment?

You should sell for 600k, 20% downpayment paid to seller and remaining 80% loan from bank. Bank will not allow you to loan 100% of selling price.

 

[kawaiiboi]

My outstanding loan is 120K. with 2.25% interest (SIBOR) with ocbc signed few years back.
I am no longer locked in.

Is it better to do repricing or refinancing?

Reprice obviously. Refinancing legal fees need to pay

 

[kawaiiboi]

Hello just want to check if this situation is possible

Sell a private property to someone below valuation
Assuming valuation is 600k but sell it at remaining loan amount or slightly more
Assuming sell @ 500k, get bank loan for 500k but 20% downpayment given in cash to seller
if like that still need to give the bank offering the loan 20% downpayment?

Max 80% LTV

 

[RayOfLight]

Have to see what offer they gonna give you.

oh so it's different rate.. hmm like that they give free conversion as good as never give.. for refinance to another bank, any idea how much do i need to pay ocbc? is it recommended in long run or what's the recommended way?

 

[MortgageSingapore]

oh so it's different rate.. hmm like that they give free conversion as good as never give.. for refinance to another bank, any idea how much do i need to pay ocbc? is it recommended in long run or what's the recommended way?

Have to see your existing LO to know what's the penalty.

 

[RayOfLight]

Have to see your existing LO to know what's the penalty.

ocbc just called, current rate for me is 48fdmr + 0.55 for first 3 years and 0.85 there after.. better rate than now.. no need pay anything, can just convert, lock in for 3 years with free conversion if 48fdmr goes up..

am just wondering if it's better to refinance to another bank.. but heard i need to pay whatever fee or penalty in cash right?

 

[MortgageSingapore]

ocbc just called, current rate for me is 48fdmr + 0.55 for first 3 years and 0.85 there after.. better rate than now.. no need pay anything, can just convert, lock in for 3 years with free conversion if 48fdmr goes up..

am just wondering if it's better to refinance to another bank.. but heard i need to pay whatever fee or penalty in cash right?

That's 1.5% first 3 years and thereafter 1.8%.
Not really good considering rates are going at 1.3% average.

 

[Ultrafire]

You should sell for 600k, 20% downpayment paid to seller and remaining 80% loan from bank. Bank will not allow you to loan 100% of selling price.

ya i meant if the valuation is 600k but i sell the person at 500k can anot ?

then the buyer take 80% loan from bank, does the bank need to know or care if the buyer paid the 20% downpayment anot?