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

Delinquency

Delinquency is simply a term that describes a mortgage payment that has been late for more than 30 days.

As the homes of borrowers would understandably be one of their priorities, one would expect that repaying the home loan obligations would be one of the first things that a homeowner would do upon receiving his pay cheque.

Being late for a few days can be understandable as sometimes people travel and don’t make payment before they went on holidays. Or sometimes forgetfulness can get the better of anyone and result in an oversight of payment due date.

But to be late in payment for more than 30 days, when the next payment is already due, can send serious signals to a lender.

A loan repayment account that has payment due for over 30 days is said to be in delinquency. And the borrower would be termed as being delinquent.

Delinquencies would negatively impact the credit report.

But it must be said that a 30-day delinquency is considered a minor offense compared to a 90-day delinquency which is considered severe.

Borrowers who are delinquent could have their credit scores battered, resulting in difficulties in obtaining other types of credit facilities such as credit cards and personal loans.

On top of that, depending on the terms of the mortgage loan agreement, a borrower could be liable to pay penalty fees on the account.

If the borrower refuses to pay these charges, then the bank would most probably add the charges to the loan balance that can result in negative amortization.

Whatever the reasons, because of how bank have the leverage in mortgage agreements, a borrower would have to pay these fees one way or another should the lender decide to enforce them.

There’s no getting away from this one.

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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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