All you need to Find Out About Singapore mortgage

By admin | Published: April 2, 2011

It is somewhat an insurance policy that allows a lender or investor to compensates losses that might happen during the loan period or when a loan is defaulted. In fact, there are 2 types of loans, namely public mortgage and private mortgage. We will touch base on private mortgage.

Singapore Private Mortgage Insurance

For Singapore mortgage insurance, the charge depend much largely on some factors like, loan value, credit score, etc. You can choose to pay annual or monthly and some mortgage packages allows you to split premium too.

Lender-Paid Singapore Private Mortgage Insurance

As for this type of insurance, the premium cost have already been included and the person who take up this form of insurance have to pay according to the interest that is written on the loan contract from the borrower.

Borrower-Paid Singapore Private Mortgage Insurance

This is an insurance taken on mortgage loan defaults that is provided by an insurance company and the premium for which is paid by the borrower. By undertaking the payment for a borrower-paid private insurance on mortgage, a borrower can get a mortgage without being required to put in a down payment of 20%. This type of** Singapore mortgage insurance** provides coverage to the lender for the extra risk of giving a high loan-to-value mortgage.

When is the best time to sign up Singapore mortgage insurance?

Once you have your keys to your new home, you can start looking for one. In case if anything happen to you, your love or closed one will not have the burden of continuing paying for the mortgage.

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Useful information on Finding Singapore Home Loan Rates

By admin | Published: March 31, 2011

It is a fact that everyone wants to own their dream house. However, not many can afford to buy their new house with their daily savings or CPF. Thus, many banks are happy to provide home loans packages to these people to help them realize their dream of owning a house.

Owning a house is every Singaporean dream, so to speak. However, as inflation climb higher each passing years, most of the average Singaporean find it harder to own a HDB flat. Thus, there are many attractive schemes and loan packages offer by some local banks which you can really take advantage of.

Some of them that provide Singapore housing loans are:

DBS

UOB

OCBC

SCB

If the banks that you want are not listed here, you may consider to contact Singapore mortgage consultant for assistance.

With that being said, these banks offer floating and fixed rates for their loans packages. However, one thing you have to take note is the banks will keep changing their interest rates depending on the current economy. So these changes will also affect existing customers whom want to take up loan packages. Below are some two important guidelines to help you understand more on Singapore home loan rates.

Understand more about Singapore home loan rates

In order to find the most attractive loan package that you can afford and like, you first must shop around and compare the best housing loan rates that are being offered by banks. Usually, the banks will offer a compettive rates for their customers. However, if you do not have the time to ask about the rates, you can easily engage a mortgage consultant service to do this for you.

If you have existing loans with the same bank for quite some time now, you can go with other banks too if other banks are offering you more attractive rates than the one you are having now. Then you can go for a term call “Loan Takeover”. And “Loan Takeover” simply means that the current bank that you are taking up the loan with will take over your existing loan. If you play this correctly, you can reduce the risk of rising interest rates.

Choosing a bank and Singapore home loan rates rates is easy if you engage a professional Singapore mortgage consultancy firm to do it for you.

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Everything Regarding Singapore Home Loan Interest Rates That You Need To Be familiar with

By admin | Published: March 26, 2011

Singapore home loan interest rate changes daily. This should not be seen as another venue for spending extra money. To overcome this, you need to have proper knowledge when comes to home loan interest rates. Not only will you make an inform choice when selecting home loan packages, you can potentially save up on the interest rates when you know how.

Here is 2 popular kinds of Singapore home loan interest rates.

Singapore Home Loan Fixed Rate Interest

This type of loan is about paying a fixed amount and you do not have to care if the interest rate is high or low during this loan period. If you want to make it affordable for you, you can consider taking up this loan and it comes with a period of 15 years and a 30 years loan. However, people find 15 years loan a more realistic housing loan. But at the end of the day, it really boils down to which type of loan really suits you.

Variable-rate Home Loans

This type of loans appears to be well like for people who know that the interest rates do not fluctuates that greatly. The advantage of getting a variable rate kind of home loans is that, usually the fixed interest rates are lower when started. On top of that, the loan is longer than the variable part of it. Let me quote you an example. If John fixed rate is 15 years long and his variable rate is only about a year, thus, he might be able to save more in such a situation.

Check out this nifty Singapore home loan interest rates calculator.

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Just what Are The Investment Property Refinance Benefits About

By admin | Published: March 21, 2011

There are many things to consider when come to investment property refinance.

Such as, making the right decision and also to determine if you are saving on interest is worthwhile or not. So, in the article, I’ll share the benefits on refinance benefits.

If you do not know already, the interest rate changes daily. In order to save money, we usually will want to get in at the lower rates. However, if you would like to refinance your property, you will want to wait till the rates goes lower or consult a property buyer company or consultant for his professional advice.

Usually, there are two kinds of rates. They are fixed rate and the adjustable rates or sometime otherwise known as variable rates. For banks to make up for economy losses, they usually will take the adjustable rates and what this means to you is that, you will be at a disadvantage. If this happens to you, it is always better to take up fixed rate option.

It always makes sense if you do your refinance when the interest rate goes lower or drop. If you do an investment property refinance, you can make a cash out refinance. You can refinance at a higher amount and use the extra cash to remodel or upgrade your property. However, watch out for tough time when you decided to do a refinance because, you will still have to pay for your mortgages when you do an investment property refinance.

So as you can see, there are a lot of advantages when doing an investment property refinance.

However, don’t start blindly. Be diligent and get educated on this area so you can judge by yourself when the rates are going down. If you do not really have the time, you can talk to a professional mortgage refinance consultant to do this for you.

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