Asked by Anonymous
Basic how u needed to process house loan
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5 Answers
Hi, are you intending to purchase a HDB flat or a private property?
Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More
Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More
Hi,
I think you are referring on how to apply for a house loan, correct me if I'm wrong.
There are 2 types of loan available for HDB flat purchase:
(a) HDB loan
(b) Bank loan
Private purchase is only via bank.
Although there are 2 types of loan available for HDB. HDB loan is only meant for Singapore Citizen. Thus one of the co-purchaser must be a Singapore Citizen to qualify to apply for it.
The actual name for HDB loan is HDB Loan Eligibility (HLE). You may apply this via HDB web site:
https://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/hdb-loan-eligibility-application
It is easy for bank loan. Simpliest way is to walk into the bank and ask for a mortgage specialist.
Our process is slightly different:
(1) First thing is check thru' all local banks; DBS, UOB & OCBC for the mortgage rate.
(2) Follow by some of the foreign bank to see whether there are any special offer.
(3) Once we determine the bank we wish to engage, we will first do a verbal IPA (In-Principle Approval). In general, an IPA last for 30~90 days dependent on different bank's practice.
(4) Next is to confirm property wanted to purchase.
(5) (a) HDB flat: HDB will provide the valuation. Bank will honour HDB valuation and will provide the bank loan as long as our loan amount fulfilled the MSR requirement. We have to provide all income document as per needed by MAS.
(b) Private purchase:
(i) New project- The bank will honour the selling price as long as our income fulfilled TDSR requirement. Same here, we will have to submit our income document as per required by MAS.
(ii) Resale - The bank will need to do a valuation (you have to pay for this valuation) before confirm the loan amount. After that, submit document and that is.
(6) (a) HDB will inform when the bank need to release the loan, usually is on the completion day.
(b) Lawyer will inform the bank when to release the loan to developer for new project, because this is progressive payment.
For resale, the loan release also on completion day. Lawyer will liaise with bank to release the fund.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow up is to Whatsapp or email us directly. Read More
I think you are referring on how to apply for a house loan, correct me if I'm wrong.
There are 2 types of loan available for HDB flat purchase:
(a) HDB loan
(b) Bank loan
Private purchase is only via bank.
Although there are 2 types of loan available for HDB. HDB loan is only meant for Singapore Citizen. Thus one of the co-purchaser must be a Singapore Citizen to qualify to apply for it.
The actual name for HDB loan is HDB Loan Eligibility (HLE). You may apply this via HDB web site:
https://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/hdb-loan-eligibility-application
It is easy for bank loan. Simpliest way is to walk into the bank and ask for a mortgage specialist.
Our process is slightly different:
(1) First thing is check thru' all local banks; DBS, UOB & OCBC for the mortgage rate.
(2) Follow by some of the foreign bank to see whether there are any special offer.
(3) Once we determine the bank we wish to engage, we will first do a verbal IPA (In-Principle Approval). In general, an IPA last for 30~90 days dependent on different bank's practice.
(4) Next is to confirm property wanted to purchase.
(5) (a) HDB flat: HDB will provide the valuation. Bank will honour HDB valuation and will provide the bank loan as long as our loan amount fulfilled the MSR requirement. We have to provide all income document as per needed by MAS.
(b) Private purchase:
(i) New project- The bank will honour the selling price as long as our income fulfilled TDSR requirement. Same here, we will have to submit our income document as per required by MAS.
(ii) Resale - The bank will need to do a valuation (you have to pay for this valuation) before confirm the loan amount. After that, submit document and that is.
(6) (a) HDB will inform when the bank need to release the loan, usually is on the completion day.
(b) Lawyer will inform the bank when to release the loan to developer for new project, because this is progressive payment.
For resale, the loan release also on completion day. Lawyer will liaise with bank to release the fund.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow up is to Whatsapp or email us directly. Read More
Hi
There are 2 loans available for property in Singapore:
1) HDB loan (Only for HDB)
2 ) Bank loan ( For both HDB and private property)
There are pro and cons in regards to both loan where some profile will suits HDB loan while others bank loan. I can explain to you in details. I also have bankers contact where they can assist you on this. Normally for HDB loan, the application process is straight forward and details can be found at HDB website. However for bank loan, different banks might have different requirements or types of documents needed. Normally for bank loan, one have to approached a bank at the initial stage and request for an approval in principle. This AIP letter is non obligatory and acts as an assurance that the bank is willing to borrow you a certain amount of loan quantum for property purchase purposes. This is an important document for budgeting purposes and ensure you did not purchase a house beyond your financial means. Thereafter, the banker will assist you on the necessary follow up. Do contact me at 93375051 for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
There are 2 loans available for property in Singapore:
1) HDB loan (Only for HDB)
2 ) Bank loan ( For both HDB and private property)
There are pro and cons in regards to both loan where some profile will suits HDB loan while others bank loan. I can explain to you in details. I also have bankers contact where they can assist you on this. Normally for HDB loan, the application process is straight forward and details can be found at HDB website. However for bank loan, different banks might have different requirements or types of documents needed. Normally for bank loan, one have to approached a bank at the initial stage and request for an approval in principle. This AIP letter is non obligatory and acts as an assurance that the bank is willing to borrow you a certain amount of loan quantum for property purchase purposes. This is an important document for budgeting purposes and ensure you did not purchase a house beyond your financial means. Thereafter, the banker will assist you on the necessary follow up. Do contact me at 93375051 for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
Small issue, first things first it depends on what kind of property you intend to purchase.
Feel free to contact me to discuss further.
Regards,
Teck Chuan
BBA (Finance), NUS
Marketing Director
ERA Realty Network Pte Ltd
Mobile: 91374602 Read More
Feel free to contact me to discuss further.
Regards,
Teck Chuan
BBA (Finance), NUS
Marketing Director
ERA Realty Network Pte Ltd
Mobile: 91374602 Read More
Hi Sir/Madam
I will be glad to assist
Appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
I will be glad to assist
Appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More