Housing Loan Singapore

www.Housingloansingapore.com

Providing online home loan services since 2009

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.

Definition

A-Credit

A-Credit is a financial jargon used by lenders to describe borrowers with the best credit profile, than therefore deserves the lowest rates available for a housing loan which are not published to the public.

As there is no industry standard in determining credit scores like FICO in the United States, banks apply their own internal equations to calculate a credit score for a home loan applicant.

The inputs and variables used to run those formulas are retrieved from the Credit Bureau of Singapore.

The credit score equations would usually generate a number, which will then be used to identify whether someone has good or bad credit according to the lender’s own internal credit standards.

For example, a score of 150 resulting from a particular lender’s credit scoring system can mean an average credit rating. While a score of 280 can mean a borrower with A-credit.

Because different banks would inevitably have different standards and criteria in judging credit profiles, an individual with A-Credit with a bank don’t necessarily mean that he or she enjoys the same status at another bank.

This implies that due to an A-credit rating, a home buyer might enjoy a better rate from his preferred bank compared to a bank that is advertising home loan rates that are the best in the market.

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It makes absolutely no sense to pay more
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What We Do For You

We Gather And Provide You Information On The Best Housing Loans In Singapore So That You Can Make A Better Decision Based On What Is Available In The Market

Which bank do you recommend for home loans in Singapore?

We don't recommend banks. We recommend you the best home loan that suits your profile and financial position.

How Does SOR Rates Hit Negative Value?

SOR rates are calculated with a complex financial formula, solved with simple algebra. The results of solving the equation therefore depends on the inputs used. Varying inputs that result from economic impacts and indicators can lead to negative value when the formula is solved. Key input indicators include USD/SGD spot rates and USD/SGD forward rates.

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.

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.
Want to see housing loan interest rate trends for the last 36 months?

Enter your email below so we can send it to you.

It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here
SEE RATES
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It makes absolutely no sense to pay more than you have to on a home loan.

Find the best mortgage rates here
VIEW TODAY'S RATES
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