The Housing Board has launched the new HDB Flat Portal, which is a combination of the existing portal and a new interface that includes calculators and guides specifically targeted at flat buyers. The new portal also has a revamped user interface, but the most significant change is how HDB now displays the home loan rates…
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Tag: home loan
Singapore Home Loans: What does the Bank Jargon Mean?
If you’re shopping around for your first home, one thing that you’ll definitely want to get right is your home loan. You’ll be servicing this loan for decades to come; bearing this in mind, it’s important to choose a loan that’s a good fit for you. In this article, we walk you through the different…
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: 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…
Here’s all the things property buyers/owners can defer paying until 2021
The Covid-19 outbreak has had a huge impact on our economy, and some of us have been hit worse. In late-March, the government first announced mortgage relief measures to allow homeowners to defer their home loan repayments in part or in full until the end of the year. In October and November, the government decided…
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…
SIBOR: What is it, and how can you get the cheapest home loan out of it?
With SIBOR rates inching up, it may be worth revisiting your home loan and see whether refinancing makes sense.
For home loans, are fixed deposit-linked rates a low-risk option?
Applying for a home loan in Singapore is a long-term financial commitment. Naturally, you’d want to ensure you not only start with a low interest rate, but you also want the reassurance that your interest rate won’t increase dramatically overnight. In trying to find a home loan package that fit this criteria, banks began to…
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…
What does it take to fully pay off your HDB flat by 40?
One common daydream among first-time home buyers is to have the HDB flat paid off by 40. But is this really plausible for the average Singaporean, and what does it take? First, some basic assumptions about the “average” Singaporean To represent our “average Singaporean”, we will use someone who buys a four-room flat at the…
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