Earn S$300 - S$500 Cash Rebate When You Refinance Your Home Loan Or When You Take Up A New Loan.
Scroll down to check out bank refinance rates.
Scroll down to check out bank refinance rates.
Enjoy Special bank rate of 1.6% and up to $300* cash rebate today! Limited period only. We (Micah Lim) refer, you deal with the bank directly.
Message us at 90041643 to find out more.
For new home loan rates , refinancing rates and related information, please scroll down.
Get in touch with bankers directly.
* or cash rebate of up to 0.05% of your loan value, whichever is higher, applicable for loan amount that's $500,000 and above. For loan amount that's lower than $500,000, you will enjoy a cash rebate of $300 or 0.05%, which is lower. Terms apply.
Message us at 90041643 to find out more.
For new home loan rates , refinancing rates and related information, please scroll down.
Get in touch with bankers directly.
* or cash rebate of up to 0.05% of your loan value, whichever is higher, applicable for loan amount that's $500,000 and above. For loan amount that's lower than $500,000, you will enjoy a cash rebate of $300 or 0.05%, which is lower. Terms apply.
Why Let Us Refer Bankers To You
Simply decide on the bank(s) that you prefer for the financing of your home loan. It can be a new loan, refinancing or under construction. Let us refer bankers to you.
You earn an extra S$300 - S$500 cash and got nothing to lose. You will still enjoy the current bank promotional rates and packages, no less. Your contract is signed directly with the bank. If you contact the bankers directly, you won't earn this additional S$300 - S$500.
Our referral service to you is totally Free.
Enjoy Special bank rate of 1.6% and up to $300 cash rebate today! Limited period only. We (Micah Lim) refer, you deal with the bank directly.
Simply decide on the bank(s) that you prefer for the financing of your home loan. It can be a new loan, refinancing or under construction. Let us refer bankers to you.
You earn an extra S$300 - S$500 cash and got nothing to lose. You will still enjoy the current bank promotional rates and packages, no less. Your contract is signed directly with the bank. If you contact the bankers directly, you won't earn this additional S$300 - S$500.
Our referral service to you is totally Free.
Enjoy Special bank rate of 1.6% and up to $300 cash rebate today! Limited period only. We (Micah Lim) refer, you deal with the bank directly.
How It Works
1. Contact us and let us know your name, contact number, email address, loan amount, loan period and property address(optional). Tell us the bank(s) you prefer, up to 3 banks. If you aren't sure of which banks, then we will suggest two banks to you.
2. Friendly bank home loan executives from the respective banks you have chosen will contact you and explain their home loan packages and rates directly to you. You can decide which bank you want to take up home loan with or not to take up any loans from them at all. No obligations on your part.
3. You liaise with the bankers, submit documents, decide on the type of packages and sign up packages directly with the bank. We will have no privy to your information and it is confidential between the bank and yourself.
4. Once your loan application is approved and loan disbursed, we will ibank S$300 - S$500 directly to your bank account within 14 days of us receiving our bank referral fee from the bank you have chosen.
Get bankers to contact you now. No obligations to take up loan. You can check your loan eligibility too.
Terms And Conditions
1. In order to get the cash reward of S$300 - S$500, the loan amount must be at least S$500,000 and above. The loan period or tenure must not be shorter than 7 years for every successful loan disbursed. If the loan amount is less than S$500,000 or the loan period is less than 7 years, the cash reward will only be S$100.
2. The cash reward of S$300 - S$500 is only applicable when you contact us directly and not when you had already applied for a home loan with the bank(s) of your choice. Most banks will not accept our referral if you had already applied directly to the bank.
3. Please feel free to use our loan information and applications below. You are free to apply loan through iCompareloan but if you do apply loan through them, then the cash reward is only up to S$100 for every successful loan application, regardless of the loan amount.
4. We are not a mortgage loan broker so we can't advise you professionally on the type of loans or which bank that is most suitable for you. It is advisable for you to seek consultation with our referred bankers on the type of home loan package that will suit you.
5. The bank referral fee may be paid within 2 months from the date of your loan disbursement. If the bank decides to reduce our referral fee for whatsoever reason(s), for example - when the bank gives you special preferred rates that is better than their public promotional rate. In this case, our referral fee from the bank may be less than S$300 and therefore you will only receive a cash reward of up to S$100. This will be supported by payment advice from the bank to us. The cash reward to you is only payable after we had received our referral fee from the bank on the successful deal.
6. This promotion of cash reward is only valid till 31 December 2018 and for selected banks only.
7. Do note that under MAS regulations, you will need to declare the value of your cash reward/cash receipts to the bank you transact with for your home mortgage loan. Terms and Conditions apply.
1. Contact us and let us know your name, contact number, email address, loan amount, loan period and property address(optional). Tell us the bank(s) you prefer, up to 3 banks. If you aren't sure of which banks, then we will suggest two banks to you.
2. Friendly bank home loan executives from the respective banks you have chosen will contact you and explain their home loan packages and rates directly to you. You can decide which bank you want to take up home loan with or not to take up any loans from them at all. No obligations on your part.
3. You liaise with the bankers, submit documents, decide on the type of packages and sign up packages directly with the bank. We will have no privy to your information and it is confidential between the bank and yourself.
4. Once your loan application is approved and loan disbursed, we will ibank S$300 - S$500 directly to your bank account within 14 days of us receiving our bank referral fee from the bank you have chosen.
Get bankers to contact you now. No obligations to take up loan. You can check your loan eligibility too.
Terms And Conditions
1. In order to get the cash reward of S$300 - S$500, the loan amount must be at least S$500,000 and above. The loan period or tenure must not be shorter than 7 years for every successful loan disbursed. If the loan amount is less than S$500,000 or the loan period is less than 7 years, the cash reward will only be S$100.
2. The cash reward of S$300 - S$500 is only applicable when you contact us directly and not when you had already applied for a home loan with the bank(s) of your choice. Most banks will not accept our referral if you had already applied directly to the bank.
3. Please feel free to use our loan information and applications below. You are free to apply loan through iCompareloan but if you do apply loan through them, then the cash reward is only up to S$100 for every successful loan application, regardless of the loan amount.
4. We are not a mortgage loan broker so we can't advise you professionally on the type of loans or which bank that is most suitable for you. It is advisable for you to seek consultation with our referred bankers on the type of home loan package that will suit you.
5. The bank referral fee may be paid within 2 months from the date of your loan disbursement. If the bank decides to reduce our referral fee for whatsoever reason(s), for example - when the bank gives you special preferred rates that is better than their public promotional rate. In this case, our referral fee from the bank may be less than S$300 and therefore you will only receive a cash reward of up to S$100. This will be supported by payment advice from the bank to us. The cash reward to you is only payable after we had received our referral fee from the bank on the successful deal.
6. This promotion of cash reward is only valid till 31 December 2018 and for selected banks only.
7. Do note that under MAS regulations, you will need to declare the value of your cash reward/cash receipts to the bank you transact with for your home mortgage loan. Terms and Conditions apply.
Sharing is rewarding. Share this with your friends. If your friend's home loan application is successful through us, we will reward you with S$50 cash. Terms and conditions apply.
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Article 1: Refinancing your Home Loan can be the Best Option
Article 2: The Role of Economic Growth in Mortgage
Article 3: You and Mortgage Insurance
Article 4: 3 Month Sibor Has Finally Dropped
Article 5: What to Prepare Yourself When You Need a Home Loan
Article 6: Should You Refinance Your Home Loan Now?
Article 2: The Role of Economic Growth in Mortgage
Article 3: You and Mortgage Insurance
Article 4: 3 Month Sibor Has Finally Dropped
Article 5: What to Prepare Yourself When You Need a Home Loan
Article 6: Should You Refinance Your Home Loan Now?
Article 1: Refinancing your Home Loan can be the Best Option
Today, having a loan in a bank will lessen your worry because there is no need for you to double your payment when it comes to mortgage interest. If you want to refinance your home loan, there is a need for you to understand and learn floating rate and fixed rate. There are different ways on how to calculate your home loan rate if you reside in Singapore. It is very important for you to know the difference between the two rates to be able for you to understand their real use.
Floating rate is a kind of variable of interest rate that is based from SOP or Sibor rate. This rate will measure the how the different financial institution is lending from each other. Having a floating interest will depend on the two rates wherein there is a tendency to go up or down. On the other hand, the fixed rate will provide you agreement that bank will keep the interest of set rate. This will guarantee that the interest rate you have will not be charged from specified time even to the market conditions. Once you already know the difference between the two kinds of rate, you may now try to learn the types of loan.
Here are the three types of loan in Singapore you can choose from:
It is very important to know the difference between SOR and SIBOR because it will serve as your benchmark rates for your commercial and private property prices in Singapore. Through this you can easily check your current rates.
SOR is base from interest rates that is utilized by the banks when you are lending to each other. It is administered by Association of most Banks in Singapore. While the SOR is based on the currency exchange rate with US dollar. This home loan rate is based on the SOR, which will just cost similar amount of money once it has been converted in US dollars. However, it will depend upon the economic state of US and there are few banks in Singapore, who use this kind of mortgage rates.
But for you to see the best package of SIBOR home loan, you may check their best features:
These are the good benefits that you will have as soon as you try to refinance your home loan. However, it will still depend to the transparency of the SOR and SIBOR. The rates will also depend on how the bank and lending companies operate their cost during the process, along with about how much money it earns.
You can check refinancing packages here.
Today, having a loan in a bank will lessen your worry because there is no need for you to double your payment when it comes to mortgage interest. If you want to refinance your home loan, there is a need for you to understand and learn floating rate and fixed rate. There are different ways on how to calculate your home loan rate if you reside in Singapore. It is very important for you to know the difference between the two rates to be able for you to understand their real use.
Floating rate is a kind of variable of interest rate that is based from SOP or Sibor rate. This rate will measure the how the different financial institution is lending from each other. Having a floating interest will depend on the two rates wherein there is a tendency to go up or down. On the other hand, the fixed rate will provide you agreement that bank will keep the interest of set rate. This will guarantee that the interest rate you have will not be charged from specified time even to the market conditions. Once you already know the difference between the two kinds of rate, you may now try to learn the types of loan.
Here are the three types of loan in Singapore you can choose from:
- Home loan that is base from SOR or SIBOR
- Fixed deposit home rate
- Board rate
It is very important to know the difference between SOR and SIBOR because it will serve as your benchmark rates for your commercial and private property prices in Singapore. Through this you can easily check your current rates.
SOR is base from interest rates that is utilized by the banks when you are lending to each other. It is administered by Association of most Banks in Singapore. While the SOR is based on the currency exchange rate with US dollar. This home loan rate is based on the SOR, which will just cost similar amount of money once it has been converted in US dollars. However, it will depend upon the economic state of US and there are few banks in Singapore, who use this kind of mortgage rates.
But for you to see the best package of SIBOR home loan, you may check their best features:
- You can pay 2/3 of your deposits in bank with same interest rates in your mortgage loan.
- You can offset 100 % of your interest in your home loan.
- Your home loan rates will go up, as well as your money in a bank.
- It will not just liquidate your cash but will also free up your funds from investment opportunities or emergency.
These are the good benefits that you will have as soon as you try to refinance your home loan. However, it will still depend to the transparency of the SOR and SIBOR. The rates will also depend on how the bank and lending companies operate their cost during the process, along with about how much money it earns.
You can check refinancing packages here.
Article 2: The Role of Economic Growth in Mortgage
The world already has high demands. Many types of organizations in both public and private sectors in the community have their own way of helping others in terms of money in a return of interest imposed. The interests relies on the percentage and amount of money borrowed. The rate of percentage also depends on the span of time in which you chose to pay it back. There is going to be an agreement to be settled between the bank agents and the borrower.
Interests will be imposed whether how big or how small the amount of money one is about to borrow. Depending on one’s capability to pay it back, the bank also gives consideration on that. The bank will never let one borrow when he/she has no source of income to give back the money to be loaned. The bank will also never let the borrower loan a money if he/she has no property or anything under his/her prejudice that will serve as the payment to the bank if one fail to pay the borrowed money.
In that case, mortgage is closely related. Mortgage interests, in whatever manner, is applied especially that the activity is dealing with a large amount of money. Reviewing the Singaporean country regarding mortgage loans, many homeowners are attracted in this loan mortgage being issued because of the said low interest rate. This scenario will never be avoided. Therefore, when the time comes that the interest will rise up, home owners will probably have a problem of paying back the quick jump of the mortgage monthly payment.
People will grab mortgage loans when the economic status of a certain country cannot recover. The weakening of the production of a certain country can lead to a big problem. All the people involved living in that country will be very affected especially in the field of employment. The companies will be forced to lessen their manpower when the production is not working well. In this case, households will be persuaded to find the means to survive.
Though there is a high risk behind it, people still try to engage themselves in mortgage loans. For the last few years, Singapore encounters a weak economic flow, same with China who is Singapore’s largest trading partner. With a low performing of economic in a certain country, the life of the people will be affected. They will find their own means and look for their own initiative to live. Mortgage loan will be their solution.
Over the month, the percentage was changed in an average earnings per hour for production and non-supervisory employees, adjusted on November 2014 to November 2015. The total earning will affect the totality of a certain country. If the earnings and production are high enough to reach the target quota, the economic bars will be stable. In the later days, we will foresee that if the economy will not raise its performance, the mortgage interests will be affected, urging the bank agencies to find a way to save the company.
Adapted from article on iCompareloan
The world already has high demands. Many types of organizations in both public and private sectors in the community have their own way of helping others in terms of money in a return of interest imposed. The interests relies on the percentage and amount of money borrowed. The rate of percentage also depends on the span of time in which you chose to pay it back. There is going to be an agreement to be settled between the bank agents and the borrower.
Interests will be imposed whether how big or how small the amount of money one is about to borrow. Depending on one’s capability to pay it back, the bank also gives consideration on that. The bank will never let one borrow when he/she has no source of income to give back the money to be loaned. The bank will also never let the borrower loan a money if he/she has no property or anything under his/her prejudice that will serve as the payment to the bank if one fail to pay the borrowed money.
In that case, mortgage is closely related. Mortgage interests, in whatever manner, is applied especially that the activity is dealing with a large amount of money. Reviewing the Singaporean country regarding mortgage loans, many homeowners are attracted in this loan mortgage being issued because of the said low interest rate. This scenario will never be avoided. Therefore, when the time comes that the interest will rise up, home owners will probably have a problem of paying back the quick jump of the mortgage monthly payment.
People will grab mortgage loans when the economic status of a certain country cannot recover. The weakening of the production of a certain country can lead to a big problem. All the people involved living in that country will be very affected especially in the field of employment. The companies will be forced to lessen their manpower when the production is not working well. In this case, households will be persuaded to find the means to survive.
Though there is a high risk behind it, people still try to engage themselves in mortgage loans. For the last few years, Singapore encounters a weak economic flow, same with China who is Singapore’s largest trading partner. With a low performing of economic in a certain country, the life of the people will be affected. They will find their own means and look for their own initiative to live. Mortgage loan will be their solution.
Over the month, the percentage was changed in an average earnings per hour for production and non-supervisory employees, adjusted on November 2014 to November 2015. The total earning will affect the totality of a certain country. If the earnings and production are high enough to reach the target quota, the economic bars will be stable. In the later days, we will foresee that if the economy will not raise its performance, the mortgage interests will be affected, urging the bank agencies to find a way to save the company.
Adapted from article on iCompareloan
Article 3: You and Mortgage Insurance
Most of the time, bankers from variety of banks are offering their clients the option of getting a mortgage insurance. The loan size of a mortgage insurance was about 1.6 million. In today’s world full of unexpected uncertainties, it would make a lot of sense if people are going to get their liabilities to become sensibly covered.
When it comes to getting a mortgage insurance, there are two general modes--the fixed term and the reducing term. The fixed term mortgage insurance assured that the amount of coverage will remain constant all over the policy tenor. It seems to be more expensive than other options but when someone passes it on, there will be pay-out moneys that will be left after the mortgage loan has been cleared. Most people are choosing to have this kind of insurance mortgage because it has more sense. Overall, it really boils down their personal budget and needs. On the other hand, reducing term mortgage insurance makes sure that the size of the outstanding loan will go down. Most of the time, insurers are going to waive off their premiums for the last remaining years as a form of incentive. This kind of mode is much cheaper than its fixed term cousin. Aside from that, it can also clean cut to the no frills mortgage loan insurance.
One of the most common misunderstanding that people have is when they think that a mortgage insurance is like a fire insurance where in fact, there is a big difference between these two. A fire insurance is provided for free by the bank every time people will take up a housing loan with them. It covers the physical damages to you property because of explosion, fire, and earthquake and so on. If ever you notice that the fire insurance can cover your bank interest, then your property is not yours if you choose to have a home loan.
A mortgage insurance is very different from a fixed insurance because it covers the life of the mortgagors in the event of death. Moving on is a new thing to do but leaving your loved ones to provide a service housing loan alone is not exactly the thing that you need to have in mind. A mortgage insurance is going to save your day.
The pay-out it have will become more or less equal to your existing loan amount when you kick the bucket out. If ever you have a four million dollar loan, then the annual premium you will have will be around $1000 for a 30-year-old person who is not smoking.
Having a $1000 per annum for the coverage of $1000000 is a good deal to have. For those people who want to have something at the end of their term, then it would be best if you were going to have a policy that has a participating value. You can play with a mortgage insurance estimator for you to know more information about it.
Adapted from article on iCompareloan
Most of the time, bankers from variety of banks are offering their clients the option of getting a mortgage insurance. The loan size of a mortgage insurance was about 1.6 million. In today’s world full of unexpected uncertainties, it would make a lot of sense if people are going to get their liabilities to become sensibly covered.
When it comes to getting a mortgage insurance, there are two general modes--the fixed term and the reducing term. The fixed term mortgage insurance assured that the amount of coverage will remain constant all over the policy tenor. It seems to be more expensive than other options but when someone passes it on, there will be pay-out moneys that will be left after the mortgage loan has been cleared. Most people are choosing to have this kind of insurance mortgage because it has more sense. Overall, it really boils down their personal budget and needs. On the other hand, reducing term mortgage insurance makes sure that the size of the outstanding loan will go down. Most of the time, insurers are going to waive off their premiums for the last remaining years as a form of incentive. This kind of mode is much cheaper than its fixed term cousin. Aside from that, it can also clean cut to the no frills mortgage loan insurance.
One of the most common misunderstanding that people have is when they think that a mortgage insurance is like a fire insurance where in fact, there is a big difference between these two. A fire insurance is provided for free by the bank every time people will take up a housing loan with them. It covers the physical damages to you property because of explosion, fire, and earthquake and so on. If ever you notice that the fire insurance can cover your bank interest, then your property is not yours if you choose to have a home loan.
A mortgage insurance is very different from a fixed insurance because it covers the life of the mortgagors in the event of death. Moving on is a new thing to do but leaving your loved ones to provide a service housing loan alone is not exactly the thing that you need to have in mind. A mortgage insurance is going to save your day.
The pay-out it have will become more or less equal to your existing loan amount when you kick the bucket out. If ever you have a four million dollar loan, then the annual premium you will have will be around $1000 for a 30-year-old person who is not smoking.
Having a $1000 per annum for the coverage of $1000000 is a good deal to have. For those people who want to have something at the end of their term, then it would be best if you were going to have a policy that has a participating value. You can play with a mortgage insurance estimator for you to know more information about it.
Adapted from article on iCompareloan
Article 4: 3 Month Sibor Has Finally Dropped
A price war has broken out in the Singapore home loan market in October. The Singapore interbank rate has dropped to 0.87067%, the lowest so far in 2016.
It is not a huge drop but it is the first time it dropped in the past few months. DBS recently launched a free year fixed rate home loan package at 1.68% annually.
Original interest rate was 1.8%.
For home owners looking to lock in at a lower interest rate may want to consider home loan packages based on fixed interest rates.
A price war has broken out in the Singapore home loan market in October. The Singapore interbank rate has dropped to 0.87067%, the lowest so far in 2016.
It is not a huge drop but it is the first time it dropped in the past few months. DBS recently launched a free year fixed rate home loan package at 1.68% annually.
Original interest rate was 1.8%.
For home owners looking to lock in at a lower interest rate may want to consider home loan packages based on fixed interest rates.
Article 5: What to Prepare Yourself When You Need a Home Loan
Many borrowers spoil their own chance of securing a home loan unknowingly. In fact, they are sabotaging their own credit score or credit assessment by banks because of their own actions prior and while taking the bank home loan.
Most borrowers will be aware of this. Banks will very likely not extend any form of home loans to anyone who is an undischarged bankrupt or in a legal tussle of being sued.
Even when you are discharged from bankruptcy, it will take your record to be removed after five years.
Never default on any of your current loans, a defaulted loan occurs when banks wrte off your loans in which they don't have a collateral. This will affect your credit score and will be on your credit record permanently.
Your credit score is crucial to get that bank loan. It is open to you and all banks in Singapore. Banks use that to assess if they want to grant you that home loan.
Banks will generally frown on borrowers who borrow and owe too much. Once your borrowings go up, your credit score will come down. Either high borrowings from one bank or multiple small borrowings from multiple banks on credit cards and other form of personals loans can spoil your chance of securing that home loan.
Always be punctual on your current existing loans. These loans can be mortgage, personal, credit card or car loans. If you are often more than 30 days late may earn you That delinquent status will appear on your credit score. This is undesirable and definitely affect you getting that often much needed hone loan.
The kiasu or worried will lose out mentality often made many Singaporeans want to apply to as many banks as possible for their home loan. Banks will know that you have submitted to many banks for that home loan application and they look at it unfavorably as they assume you are desperate for a bank loan. Your credit rating may this drop as a result. Compare interest first and submit applications for your home loan only when it is absolutely necessary.
Many borrowers spoil their own chance of securing a home loan unknowingly. In fact, they are sabotaging their own credit score or credit assessment by banks because of their own actions prior and while taking the bank home loan.
Most borrowers will be aware of this. Banks will very likely not extend any form of home loans to anyone who is an undischarged bankrupt or in a legal tussle of being sued.
Even when you are discharged from bankruptcy, it will take your record to be removed after five years.
Never default on any of your current loans, a defaulted loan occurs when banks wrte off your loans in which they don't have a collateral. This will affect your credit score and will be on your credit record permanently.
Your credit score is crucial to get that bank loan. It is open to you and all banks in Singapore. Banks use that to assess if they want to grant you that home loan.
Banks will generally frown on borrowers who borrow and owe too much. Once your borrowings go up, your credit score will come down. Either high borrowings from one bank or multiple small borrowings from multiple banks on credit cards and other form of personals loans can spoil your chance of securing that home loan.
Always be punctual on your current existing loans. These loans can be mortgage, personal, credit card or car loans. If you are often more than 30 days late may earn you That delinquent status will appear on your credit score. This is undesirable and definitely affect you getting that often much needed hone loan.
The kiasu or worried will lose out mentality often made many Singaporeans want to apply to as many banks as possible for their home loan. Banks will know that you have submitted to many banks for that home loan application and they look at it unfavorably as they assume you are desperate for a bank loan. Your credit rating may this drop as a result. Compare interest first and submit applications for your home loan only when it is absolutely necessary.
Article 6: Should You Refinance Your Home Loan Now?
This is the question that is on the minds of many home loan borrowers after Monetary Authority of Singapore(MAS) made some changes on refinancing under the Total Debt Servicing Ratio (TDSR) is should they consider to refinance their home loans now.
Basically, MAS wants to make it easier or possible for existing home loan borrowers to be able to refinance their current home loan so as to enjoy a lower interest rate. In another word, MAS is taking care of the interest of home owners who are stuck in the original rules of TDSR.
After costing in any redemption penalties, home loan borrowers should always consider to refinance their home loans if there is reasonable savings, especially so if you are are a beneficiary of the latest change in TDSR by the authorities.
Changes in the latest TDSR affects people in two categories. Property loan borrowers who have an existing property loan for a house they are living in and borrowers who have existing property loan.
The first category where the home loan borrower lives in his/her own home will be exempted from from the TDSR's 60 percent rule. Doesn't matter when they bought the home property.
For the second category, which is for property owners who has an investment property, he can refinance his investment property if he passes the bank's credit assessment or commits to a debt-reduction plan with his bank to reduce the outstanding balance on his property loan by at least 3%.
This is the question that is on the minds of many home loan borrowers after Monetary Authority of Singapore(MAS) made some changes on refinancing under the Total Debt Servicing Ratio (TDSR) is should they consider to refinance their home loans now.
Basically, MAS wants to make it easier or possible for existing home loan borrowers to be able to refinance their current home loan so as to enjoy a lower interest rate. In another word, MAS is taking care of the interest of home owners who are stuck in the original rules of TDSR.
After costing in any redemption penalties, home loan borrowers should always consider to refinance their home loans if there is reasonable savings, especially so if you are are a beneficiary of the latest change in TDSR by the authorities.
Changes in the latest TDSR affects people in two categories. Property loan borrowers who have an existing property loan for a house they are living in and borrowers who have existing property loan.
The first category where the home loan borrower lives in his/her own home will be exempted from from the TDSR's 60 percent rule. Doesn't matter when they bought the home property.
For the second category, which is for property owners who has an investment property, he can refinance his investment property if he passes the bank's credit assessment or commits to a debt-reduction plan with his bank to reduce the outstanding balance on his property loan by at least 3%.