Tag: home loan

Single and ready to mingle? Is your millennial diet craving a pinch of peace and quiet, a dash of independence and a splash of autonomy?  The Rise of Singles Well, you’re not alone. In fact, there has been a stark rise in the number of one-person resident households in Singapore, as corroborated by Department of…

When it comes to big picture issues like the US-China trade war, it can be hard to visualise the every day impact on your wallet. Instead of going on about investment prospects, here’s what the home owner should know – it affects their home loan. First, we need to understand how home loan interest rates…

Okay be honest: how many of you switched off three minutes into the whole “why you should refinance” spiel by the mortgage broker / banker? Great, the three of you who paid attention can skip this article. The rest of you, you might want to take note of how refinancing into a cheaper loan can…

When it comes to taking a bank loan, what are the first few questions that pop up in your head? For most new buyers, you probably don’t know what to ask. With experts from Dollarback Mortgage, we’re here to highlight what you need to note: 1. Look for the cheapest home loan What is there…

I learned long ago that being self-employed means freedom. If I can’t afford a house, for example, I’m free to go without. But if you cultivate some basic skills, you have a good shot at home ownership: How is buying a house different when you’re self-employed? For starters, banks apply a haircut of 30 per…

Every day, 99.co takes a piece of property jargon and demystifies it. Today, we’re looking at loan tenures: What is the loan tenure? The loan tenure is the amount of time you’re given to repay a loan. There’s a loan tenure for almost any kind of loan, barring those with variable repayments (e.g. credit cards)….

Every day, 99.co takes a piece of property jargon and demystifies it. Today, we’re looking at the Income Weighted Average Age (IWAA): Before we get into it, you need to know about the LTV For the IWAA to make sense to you, you first need to understand the concept of the LTV. As a quick…

We’ve discussed the TDSR before on 99.co. But what can you do if you can’t meet this loan restriction? Experts at DollarBack Mortgage have some helpful tips: What is this TDSR thing that’s getting my loan application denied? You can find a quick description of the TDSR in our jargon section. But as a quick…

Every day, 99.co takes a piece of property jargon and demystifies. Today we examine something that’s fast dying out: COV What is Cash Over Valuation (COV)? COV happens when you buy a resale flat above its actual HDB valuation. For example, if a resale flat is valued at $600,000 by HDB, but you agree on…

Every day, 99.co picks a piece of property jargon to demystify. Today we look at the Progressive Payment Scheme (PPS): What is the Progressive Payment Scheme (PPS)? The PPS is used for properties that are still under development (also called Buildings Under Construction or BUC). Rather than pay for the whole property at one go…