With global interest rates trending downwards, some Singapore homeowners are hoping to see a similar move in mortgage rates. This is especially after the Singapore Interbank Offered Rate (SIBOR) hit its lowest level in almost four years in late December - at 1.5 percent. However, some analysts have said that the banks may not be willing to lower rates, in light of the current volatility in global...
Housing Loans
If you are looking to finance or refinance your home, here are a few things NOT TO DO: Don’t Kick The Tires. How much you put down, credit affects your interest rate. It drives lenders crazy to pick up the phone and be asked what their best rate is. How much you put down on your home and how good your credit is directly affecting the interest rate on your loan. You can shop for rates, but be prepared to...
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...