If you agree to pay more for an HDB resale flat than HDB’s valuation, the difference is cash over valuation (COV). You must pay that difference in cash: CPF Ordinary Account savings cannot cover it. The valuation can also limit the amount you can borrow, so work out your total upfront cash and CPF needs…
See how a Singapore bank may assess available property equity using valuation, outstanding mortgage, CPF usage and affordability requirements.
Calculate a Singapore home-loan refinancing break-even period using monthly savings, legal fees, valuation costs, subsidies and clawbacks.
Compare an HDB housing loan with a bank loan in Singapore, including tenure, rate structure, cash and CPF planning, and refinancing.
Compare fixed and floating home loans in Singapore, including SORA packages, lock-ins, repayment certainty and the factors to check before choosing.
Home loan refinancing in Singapore means moving your mortgage to another bank, while repricing means changing to a new package with your existing bank. Refinancing may offer a more competitive package, but it normally involves legal work, valuation and a longer process. Repricing is usually simpler, although the choices are limited to the packages offered…
Before you pay an option fee or commit to a property in Singapore, it helps to know how much a bank may be prepared to lend. A bank’s In-Principle Approval (IPA), sometimes called Approval-in-Principle (AIP), gives you an indicative home loan amount based on a preliminary assessment of your financial profile. An IPA can make…
Your private property may be worth more today than when you bought it. A home equity loan—also known as a cash-out or mortgage equity withdrawal loan—may allow you to borrow against part of that built-up value without selling your property. The property is used as security for the loan, and the amount available depends on…
Many millennials in Singapore place great emphasis on having quality of life (so do we!), but is creating an Instagram-worthy home more important than saving for retirement? It has been found that those who bought a home in 2016 and 2017 overspent their budget, and the most common reasons given were renovation costs and buying…
Being a homeowner is one of the major milestones in life, which many people strive towards along the path of true adulting. If you are a soon-to-be homeowner, you may realise that the costs of a house lies beyond the purchase price, and there’s always the “what if” to think about. What if you are unable to…