Tag: home loan

shorter home loan tenure

When should you consider a shorter home loan tenure?

If you’re a financially conservative Singaporean who hates to take on debt, chances are you’ll cringe at long home loan tenures. Not only does the concept of borrowing stresses you out, you feel you’re losing out by taking a long tenure. Truth is, home buyers are often advised to take the longest home loan tenure…

mas report home loan

MAS report: Singaporeans could face trouble servicing home loans in 2021

On 1 December, the Monetary Authority of Singapore (MAS) noted in its annual financial stability review that, as a result of an gradual uptrend in unsecured credit charge-off rate in Q3 2019, more households could “face difficulties in their housing payments” in the coming months. Examples of unsecured credit are credit cards and personal lines…

hdb home loan rate cpf interest

Why on earth is the HDB Home Loan Rate pegged to CPF Interest Rate? Here’s the answer.

If there’s one thing Singaporeans don’t complain enough about paying more money for, it’s the interest for their CPF-pegged HDB mortgage. Most first-time homeowners, especially BTO applicants, choose to take the HDB Concessionary Loan over bank loans, despite the fact that the HDB home loan rate has now been higher than the average bank home…

total debt servicing ratio tdsr buying property

7 facts about the Total Debt Servicing Ratio (TDSR) property buyers need to know

Implemented back in June 2013 by the Monetary Authority of Singapore (MAS), the Total Debt Servicing Ratio (TDSR) is a framework that safeguards borrowers against over-borrowing for their property purchase(s). In essence, the TDSR limits the amount individuals can spend on monthly mortgage debt repayments, based on a percentage of their gross monthly income. All…

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