Home Loan

Property prices can get a lot cheaper with lower interest rates thanks to higher loan quantum . Learn how you can do this for your property with this guide .

Are you ready to buy a condo? First, you need to know the costs involved, not only the downpayment. This way, you can prepare the upfront cash required.

According to a 2022 OCBC survey, 40% of homeowners struggled to repay their loans, up from 31% the previous year. This highlights the need to borrow only what you can afford. While taking a 75% mortgage loan is common, it’s not mandatory. Your borrowing capacity depends on income, existing debts, and the property’s value. For … Read more

SORA is a benchmark interest rate used to market various financial products, including housing loans. This rate can impact the interest rate charged on home loans, as it is used as a benchmark by banks when setting interest rates for home loans. When SORA rates rise, it becomes more expensive for banks to borrow funds … Read more

Singapore’s HDB income ceilings are essential for potential homebuyers, determining eligibility for various flat types and impacting market accessibility.  In 2024, updates aimed at balancing market stability have adjusted income ceilings: S$14,000 for 4-room BTO flats, S$21,000 for extended families, and S$7,000 to S$14,000 for 2-room Flexi flats, depending on the lease length, according to … Read more

Interest rates and inflation remain high in Singapore. Taking cues from the US Federal reserve, Benchmark rates in Singapore have gone up. The Singapore Overnight Rate Average (SORA) benchmark stands at 3.51% early this February 2023, significantly affecting SORA-pegged floating rates in Singapore.  Meanwhile, Singapore’s inflation averaged 4.1% for 2022. If this trend continues, borrowers … Read more

What comes next after successfully booking your new BTO flat? You have at least six months to sign your lease agreement. By this time, you should have money ready for your flat’s down payment and have kickstarted your home loan application.  Down payments for flat purchases are quite a large sum for many, especially for … Read more

Singapore’s population is in boom, making the demand for larger homes continues to grow. But the price of residential spaces in Singapore continues to rise too. If you have a large family and need a larger space, an ideal but still affordable option is to purchase a jumbo flat which you may get under $850,000.  … Read more

If you have been shopping around for a home, chances are you have come across the different types of home loans you can take. In Singapore, you can choose between two types of home loans – a fixed or a floating home loan. Choosing the right home loan for you and your family can be … Read more

The monthly payments you make pays off the debt in installments. One term you need to understand is the loan principal and its role in clearing debt sooner.