Home Loan

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

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

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.

Loans make it possible for regular citizens to make purchases sooner than they would normally be able to. Cars, education, and starting a business require a larger sum of money. The catch with loans is something we are all familiar with–the interest rate. The larger the loan amount, the higher the interest rate, and the … Read more

Choosing between an HDB loan or a bank loan does not need to be confusing. Once you know the differences between the two, the best choice for you becomes clear.

HELOCs and home equity loans have one main thing in common: they’re secured by your home. You stand a higher chance of getting either if you’ve cleared a significant part of your mortgage.  This post looks at various aspects of both loan options, from their differences to their pros and cons so choosing can be … Read more

POSB caps HDB home loan interest rates and eliminates additional payments. Besides, the bank offers generous incentives to clients refinancing HDB loans.