Can someone help?. I took a mortgage of 650K 18 months ago for 25 yrs. The interest is 4.5 % fix for 2 yrs. Can i refinance it for 850K and at a lower interest rate for 20 yrs ? what is the consequnces like?
Posted by Yoo on May 1, 2008 in General Questions | 1012 Views
Latest Answers by Real Estate Professionals (6 Answers)
Answer Posted on May 9, 2008
Hello Mr Yoo,
Based on the brief details you have provided, I am pleased to advise that you may save about $250K in interests upon refinancing with another lender, naturally at much reduced rates, for the remaining loan tenure. Your interest savings within the 1st 3 years alone shall be in excess of $40K! As your existing loan is still within the lock-in period, your present bank will also impose a penalty. However, I am happy to say that I shall be able to arrange for a new lender to absorb the entire penalty. Whether you are able to refinance the property for $850K will depend on a few other factors including its valuation, any past or current use of CPF savings etc.
Please reach me promptly at 9090 8629 or ganfred@gmail.com so that we can discuss in greater details, before the promotional packages are withdrawn.
Please be assured that my consultancy services are available to you free of charge and free of obligation.
Cheers for now.
Fred
Accredited Mortgage Consultant
Based on the brief details you have provided, I am pleased to advise that you may save about $250K in interests upon refinancing with another lender, naturally at much reduced rates, for the remaining loan tenure. Your interest savings within the 1st 3 years alone shall be in excess of $40K! As your existing loan is still within the lock-in period, your present bank will also impose a penalty. However, I am happy to say that I shall be able to arrange for a new lender to absorb the entire penalty. Whether you are able to refinance the property for $850K will depend on a few other factors including its valuation, any past or current use of CPF savings etc.
Please reach me promptly at 9090 8629 or ganfred@gmail.com so that we can discuss in greater details, before the promotional packages are withdrawn.
Please be assured that my consultancy services are available to you free of charge and free of obligation.
Cheers for now.
Fred
Accredited Mortgage Consultant
Answer Posted on May 5, 2008
Hi, my husband is mortgage consultant,he will give you foc consultancy regarding this matter.
Please call me at 92279468 or 98710853
Please call me at 92279468 or 98710853
Answer Posted on May 5, 2008
Hi Yoo,
We have bankers that can provide the best advices for your situation. With the professionals, you can be advised on all the possible scenarios and they can even provide you the best option to fit your requirements.
Please call me @ 92978830 for arrangement.
Andrew Lau DWG
andrew.lauyk@yahoo.com
We have bankers that can provide the best advices for your situation. With the professionals, you can be advised on all the possible scenarios and they can even provide you the best option to fit your requirements.
Please call me @ 92978830 for arrangement.
Andrew Lau DWG
andrew.lauyk@yahoo.com
Answer Posted on May 5, 2008
yes you can re-finance even though still within the lock-in period. as far as i can see (the value of your loan size & your current interest rates), its worth re-financing. there's also a special package to helpabsorb the penalty fee, usually 1.5% impose by most banks. call me @90035719
Answer Posted on May 3, 2008
Gd afternoon Yoo... to refinance.. u have to wait after 2yrs... meaning when your fixed rate converts to floating rates... and to refinance, you have to get another financial institutions or other banks... Pls call me so that we could discussed further.Thks.
Raja Razie(Associate Director)
HSR International Realtors Pte.Ltd.
hp:+6590256796
Raja Razie(Associate Director)
HSR International Realtors Pte.Ltd.
hp:+6590256796
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