Tag Archives: tips

Guide to loan eligibility for HDB purchase

Be it BTO or buying from resale market, knowing how much you can borrow makes your HDB purchase planning much easier and you can also avoid costly mistakes. Bank HDB loan eligibility is based on MSR (Mortgage Servicing Ratio) 30% and TDSR (Total Debt Servicing Ratio) 60%. Maximum loan tenure is capped at age 65 […]

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Mortgage Loan Terms – What does it mean?

Here are the explanation for the different terms you would commonly see in a bank’s letter of offer. 1.Commitment Period (Lock-in Period) 2.Cancellation fee 3.Interest Review Date 4.Loan commencement date     Commitment Period (Lock-in Period) Like signing a mobile phone contract from a telco, you are “stuck” with the bank for that particular period. […]

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How Does Sibor and SOR work in Singapore housing loans?

In a new launch show-flat, you spoke to a banker and he showed you this package. Here’s how to interpret the package. Bank’s Margin / Spread This 0.75% portion is known as the bank’s margin/spread. This is an annual rate. It will not change unless the bank invokes Interest rate review clause (some banks called it Right to […]

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