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I would like to look for a home loan around $400K/20-years to buy a private condo.

I intend to pay early re-payment or pay more during teasing period (say about 20% of the loan) and continue paying more after teasing period. With this, I believe I can pay less on bank interest, right?

My question is whether my early repayment is workable.Will it possible banks accept the above payment arrangement?

If the above is not workable, can i refinance my loan with smaller amount?
let's say i take out another 40% of cash to pay the bank that i will be refinance my loan, so that my new loan will be half of the original loan and expecting lower interest charges.

Please advise if you know that. Greatly appreciated your helping....
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5 Answers

Irfaan Thian
Replied
Hello Mr Jack,

This arrangement would differ with each bank and my wide range of professional bankers would be ready to advise you on the payment arrangement. Please contact me so that I can assist you.

I hope to hear from you soon.

Thank you.

Warmest Regards,
Irfaan Thian
In Fun We Trust
 8139 5076 
Irfaanthian.era@gmail.com
Web: http://www.irfaanthian.com
Web: https://www.facebook.com/IrfaanThianRealty Read More
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Mike Lim
Replied
Evening Jack,

Most bank would have inked the mortgage loan agreement before lending the funds to you. There is a minimum caps on the partial repayment amount and minimum amount of loan to maintain. There will also be admin and penalty charges applicable should you fall to adhere to it.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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YT Tan (陈永达)
Replied
Good evening Jack,

Perhaps you will like to speak to my bankers as they will be the best professionals to advise you on that.

If you intend to do so, you will have to opt for those loan packages which dont have any lock in period and no penalty charges if you give ample notice for partial or full repayment.

Hope my sharing is beneficial to your property purchase.

Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More
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CK Ang
Replied
Hi Jack,
It depends on the contrat agreement, some allow to do so.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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YT Tan (陈永达)
Replied
Good morning Jack,

If you will want, I can recommend some bankers to you.

Just to share!

Simply a one time registration, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More
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