Housing Loan Singapore

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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

Credit Report

A credit report is a document containing detailed information regarding a person’s credit history, which in turn plays a critical role for lenders to assessing creditworthiness.

The credit history can consist a diverse set of information including those of:

  • What loans have been taken
  • What loans have been fully repaid
  • What loans have are still currently being repaid
  • Number of credit cards and with which bank
  • Bad debt settlements in the past
  • Recent repayment behaviour
  • etc

These information helps a lender calculate a credit score which determines a person’s creditworthiness.

It must be noted that different lenders would have their own sets of protocols in assessing creditworthiness. But the variables used to run these numbers are the same as they are gathered from the credit report.

This is why at the point of a borrower’s loan application, one of the first things that a lender would do is to retrieve the borrower’s credit report.

This is so that the credit rating of the borrower can be quickly determined.

If the result is a satisfactory one, then the application would be sent to the next stage of credit assessment.

Should the result be a negative one, then the application would not even get to the next stage and be denied almost instantaneously through an automated system.

The exception is when a particular credit facility was conceptualized specially to cater to people with adverse credit records.

One don’t need to have exceptional credit in order to get past this stage. A satisfactory credit would usually be good enough.

But those with exceptional credit might be offered better terms on a credit facility.

While there is no official guide to how to build good credit, it is generally agreed that a person who consistently makes full payments to debt obligations each month would at least be able to obtain a passable credit score.

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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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