The HDB provides housing loans at a concessionary interest rate (currently 2.6%) to eligible flat buyers. The HDB loan has several advantages over a bank loan: 1) Your interest rate is more stable. The interest rate is fixed for a long period of time (as it’s pegged at 0.1% above the CPF interest rate, which has […]
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Key Questions to Ask the Bank Before Taking a Home Loan
INTRODUCTION For most people, buying a home represents the most expensive purchase of a lifetime and would need long term financing to achieve. This guide focuses on home loans meant for owner occupation. A home loan or mortgage is a term loan, secured on the property that you buy. The lending bank will have first […]
Buying within your means
THE ARTICLE WAS FIRST PUBLISHED ON THE STRAITS TIMES 4th August 2010 By Tilak Abeysinhe and Gu Jiaying IN THE rush to secure a home amid escalating property prices, first-time homebuyers, especially young adults, may inadvertently commit themselves to properties beyond their means. Since mortgage payments and other home bills take priority over other basic necessities, […]