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Questions & AnswerAsk Mortgage Loan Singapore a Question.
Are there any charges for me to engage your services?
No. With Mortgage Loan Singapore, you enjoy hassle-free, best housing loan rates, as well as professional advice at zero cost.
Mortgage Loan Singapore works with almost all banks in Singapore. The banks pay us a small fee for referring cases to them. This is why we are able to provide you with free and unbiased views.
If I take a loan from the bank, what type of loan should I take?
Are you planning to sell the property after a few years? That is an important point to consider because it determines whether a fixed or floating interest rate suits you better. As Singapore inter-bank rates trend very closely to US Fed Rates, a fixed rate loan may be wise as a hedge against rates hikes because there is a possibility that the US Federal Reserve will raise interest rates in the near term. However, fixed rate loans typically comes with lock-in periods, and you are subject to paying penalties if you prepay the loan within the lock-in period.
What kind of repayment options are available?
The maximum loan tenor for HDB loans is 25 years, or up to age 65, whichever is lower, for financing up to 80%. A maximum loan tenor can be up to 30 years for financing of up to 60%. For private residential properties, there's a pre-set matrix. For the first private residential loan, you can borrow up to 80% if (1) The Loan tenor does not exceed 30 years (2) Age at the end of loan tenor does not exceed 65. For financing up to 60% on the first private residential loan, the maximum loan tenor is capped at 35 years.