Free Advice/Discussion on Bank Mortgage loan

[Property_Broker]

hi~ looking at 1.05m..

Typically it is 1.55% fixed for 2 years.

But if you are going place 200k with the banks for 6 months, they can give you 1.5% fixed for 2 years.

You can PM me if you want to see the full breakdown of the deviate package.

 

[savior23]

Hi, just got a repricing packages offer for S$400k loan from OCBC as below: -
2-Year Fixed Rate - 1.75%
3-Year Fixed Rate - 1.75%
Floating Rate (3M Compounded SORA) + 0.40%

Are the rates good compare other banks?

 

[Property_Broker]

Hi, just got a repricing packages offer for S$400k loan from OCBC as below: -
2-Year Fixed Rate - 1.75%
3-Year Fixed Rate - 1.75%
Floating Rate (3M Compounded SORA) + 0.40%

Are the rates good compare other banks?

private property or HDB?

If it is private property, it is around this range.

But if it is HDB, there are better rates for sure.

 

[The_Davis]

Typically it is 1.55% fixed for 2 years.

But if you are going place 200k with the banks for 6 months, they can give you 1.5% fixed for 2 years.

You can PM me if you want to see the full breakdown of the deviate package.

Now market price in decrease of 0.5% rate reduction?

 

[Property_Broker]

Now market price in decrease of 0.5% rate reduction?

actually i got no concrete answer for this.


500k loan size in Jan - 2,6% fixed for 2 years

500k loan size in Oct - 1.6% fixed for 2 years.

So far 1 rate cut of 0.25% cut last month for this year..

It feel like price in?

 

[savior23]

Yup

private property or HDB?

If it is private property, it is around this range.

But if it is HDB, there are better rates for sure.

Thanks. Mine is a private property. My friend got better rates at 1.55% for 2 years but loan amount around $1m. I guess it’s about the loan amount.

 

[elvintay07]

Hi, just got a repricing packages offer for S$400k loan from OCBC as below: -
2-Year Fixed Rate - 1.75%
3-Year Fixed Rate - 1.75%
Floating Rate (3M Compounded SORA) + 0.40%

Are the rates good compare other banks?

Huat kuey. Next year maybe 1.5%. Sing and dance for next 10 years. Enjoy low interest an earn like 1% risk free from cpf

 

[Property_Broker]

Yup

Thanks. Mine is a private property. My friend got better rates at 1.55% for 2 years but loan amount around $1m. I guess it’s about the loan amount.

no problem~

Yea~ it is always based on property type and loan amount.

For private property loan less than 500k, it will be more disadvantage for refinancing as the new bank will not be able to fully subsidy your legal fee.

 

[vangelis]

What about $400k then do an equity loan of 100k, workable?

 

[Property_Broker]

What about $400k then do an equity loan of 100k, workable?

yup. it is doable.

Just that note that refinancing + equity loan, you will have 2 loans eventually.

The commencement of the equity loan will be 1 month after the refinancing typical. So the out of lock in period will not align. So just beware on this.