SIBOR or SOR?

SIBOR is generally more stable while SWAP tend to fluctuate more. However 3-month SWAP has recently stayed consistently lower than 3-month SIBOR for an extended period of time. SOR is also very reactive to currency exchange rates.

Which bank offers the best home loan deals?

Interest rates and spreads are not all that matter. Don't ignore the closing costs involved. Different banks can have different customized home loans for you. Don't be surprised if you will save more on a home loan that charges more interest because of the lesser closing costs involved. This is especially so if you know that you will refinance your home loan as soon as the lock in period has expired.

HDB loan or bank housing loan?

Our opinion is to always take a HDB concessionary loan if you are eligible for one. One of HDB's objectives is to to provide affordable housing for the people. While a bank is profit driven.

Bimonthly Mortgage

A bimonthly mortgage is a housing loan in which half the monthly required payment is made twice a month.

Such payment arrangements can help a borrower save a little money from interest charges.

This is because the outstanding balance reduces at a much faster rate compared to a typical home loan with a monthly payment.

But keep in mind that the remaining balance at the end of the year will equate to a regular monthly mortgage.

This is due to 24 half payments a year will still be the same as 12 payments a year.

It should not be confused with a biweekly mortgage.

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