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

Letter Of Offer (LO)

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The letter of offer (LO) is a document stating the terms of the home loan that is presented to an applicant upon the approval of the loan.

Also known as a facility letter (FL), it is a banker’s professional duty to explain the key terms contained in the letter of offer to the borrower until he or she understands them.

Some of the key details contained in the LO include:

If there are parts, sections, or single terms which you are confused with, you owe it to yourself as a responsible adult to ask question about them.

To ensure that there is a record of key terms explained by a mortgage banker, the borrower might sometimes be requested to sign along side specific sentences to indicate that they have been explained.

When the borrower accepts the terms of the letter of offer, it is signed and there is now an official legal contract between the two parties.

The accepted letter of offer containing the endorsement of borrower and bank representatives will then be sent to the account services department of the bank for the arrangement of funds as required.

The letter of offer is a required document during closing as documented proof of financing being available.

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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?

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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
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
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