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Singapore Property Financing Tips

A lot of would-be investors always dream about undertaking great Singapore real estate investments. However the task of doing so isn’t as easy as its sounds. Great investments in real estate properties require property financing and if you have no idea at all about property financing then you’ll need to learn about it through property financing tips and tricks. Having big dreams about one’s dream property isn’t a bad thing, what’s bad is not being able to tell whether or not one would be able to finance such a property.

In order to prepare yourself to face your financiers, here are a few property financing tips that you can use:

Firstly, you need to draw up a Singapore property finance plan where you’ll be indicating how much you’re expecting to earn in the form of rent from your real estate investment. You’ll also need to mention the amount you’re expecting to borrow from the financial institution or the bank. Also, you can take our help, i.e. the help of a real estate business for the purpose, to determine the prevailing rates of rent in your area. With all these figures ready you’ll be able to assure the financier that you can repay the loan without any problem. A good property finance plan would reflect your seriousness towards the property as an investor.

Another thing that you’ll have to note here is you need to ascertain your credit history since it would be of much interest to the financiers who are going to finance your investment. A bad credit history can really be undoing in such a case because no financier would be interested in financing your purchase. Today, we live in a modern society where credit rating is a serious issue, so you need to ensure that your credit score is good before you consider facing your financiers.

Another one of the important Singapore property financing tips touches upon the aspect of the borrower’s experience in a former job. The reason why this is needed is because the financier would be interested in knowing whether the borrower is a responsible or an irresponsible person and what better way to find out than from the borrower’s previous employer? So it would make a difference if you are willing to demonstrate or show your level of commitment from the previous work. This would be sufficient to convince the financier that you’ll be able to take care of your real estate investment. If you have a good record at your previous job then there are plenty of chances that your application would be accepted and you’ll be receiving the funds.

Thus you need to keep in mind these three points when you are looking to be successful in real estate financing. However one should note that the above list of tips is definitely not exhaustive, there are other conditions too but the three points stated above are of great importance and they play an important role when it comes to convincing one’s financier regarding the investment.

 
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