Buying a home is one of the biggest purchases you will make in your lifetime, so it's important to do your homework before you apply for that loan. Prepare in advance You must pay at least 1 per cent of the purchase price in exchange for an option to purchase. After that, you have 14 days to decide whether to proceed with the deal and pay the balance of 9 per cent for a completed property or 4 per cent...
Home Loan Guide
Some mortgage rates are rising; shop around before making a choice As global interest rates fall, you would expect more homeowners to be tempted into taking up mortgages pegged to the Singapore Interbank Offered Rate (Sibor) or Swap Offer Rate (SOR). After all, the three-month Sibor rate is currently around 0.68 per cent - just shy of its all-time low of 0.63 per cent. However, instead of resulting in...
Rates are among the most important criteria when choosing a home loan. Other factors include one’s financial situation, risk appetite, and the need for flexibility. You should also consider issues such as lock-in periods, legal fee subsidies, stamp fees, valuation, insurance, processing fee and legal fees. Most importantly, one must choose a bank that they are comfortable in doing business...