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Singapore Home Loan Guide

A Singapore home loan is one of the most easily obtainable loan, the time taken to get the approval for a home loan ranges from 48 hours to 72 hours! Yes everything from the initial application process to the final approval stage can take place in 48 hours or 2 days minimum. The time period however depends on the lender you chose, how the lender processes the loan, how complex the process of application is and the speed of the valuer when it comes to conducting the valuation process. Nevertheless, you don’t have to wait for weeks in order to get a home loan.

In order to secure a Singapore home loan you’ll have to go through an initial application process which can be done online too, if the lender’s website facilitates such function. After that many different processes take place: interview, application process, property valuation, conditional approval, unconditional approval and the processing of the various documents pertaining to mortgage or home loan. The final process is that of settlement.

You can also use a Singapore home loan calculator which is available in a lot of lenders’ websites to get a ball-park estimate of the borrowing power of the borrower. All you have to do is to provide certain information and you’d be given the results in a matter of seconds. These loan calculators depend on the interest rate and the payment frequency and other relevant factors to calculate the results. It is also capable of estimating the effect of your entire home loan.

It is better to take loans from us instead of the banks because we provide you with choices from which you can pick out the loan suitable for you and your needs. We offer an extensive array of home loans and other financial products that would cater to your needs specifically and we also place the best interest of our clients first. Client satisfaction is what we aim for and we are excellent at achieving it because we don’t compromise on the quality of our services or the needs of the customers. We ensure that every single one of our client is happy with our service. Our team comprises of only professional staffs who cares about the clients and their needs and strive to help them out in the best possible manner.

The interest rate of Singapore home loans is bound to fluctuate and it won’t stay constant for long. So what if you kind of decided on one loan whose rate of interest is low on that day, but you don’t want to purchase it then, you want some more time? In this case you can lock your rate. Typically the lenders only allow you to lock your rate for about 30 days or more, if you lock longer than that period then you’ll be penalized. During this time you can ponder upon things carefully and try to look at the circumstances in a systematic way. This way you will be able to find out which Singapore loan is best for you and which isn’t. Good Luck!

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