Loan amount is subject to bank evaluation on each borrower’s income and credit profile as well as the number of mortgages under the borrower’s name.

Please refer to ‘what to consider when taking a housing loan’ at Loan Info page.

Minimum bank loan duration for bank loan is 5 years, typically up to age 65 years. Age based on weighted average that is related to income.

Please refer to ‘what to consider when taking a housing loan’ at Loan Info page.

Please see example as follow:

Borrower 1:      age 25, income $2500

Borrower 2:      age 55, income $5000

Weighted average age = [(25x$2,500)/($2,500 + $5,000)] +[(55x$2,500)/($2,500 + $5,000)] = 45 years old

Minimum down payment depends on various factors such as number of mortgages, loan tenure, etc.

Please refer to ‘what to consider when taking a housing loan’ at Loan Info page.

You can use your CPF ordinary account (OA) towards the purchase of the property, payment for stamp duty, legal fees and repayment of monthly instalments for the loan, as long as you are the owner of the property; the property remaining lease plus your age must be more than 95 years old.

However, if you have already used CPF in an existing property, you need to set aside half of the prevailing CPF minimum sum before you can use the excess in your OA account for the second or subsequent property. Savings in the CPF special account (SA), including the amount used for investments, and OA can be used to meet half of the prevailing minimum sum.

BSD is applicable to all buyers on all properties, and tax amount based on the valuation price or acquisition price, whichever is higher.

Calculation of the BSD: First $180,000 at 1%, second $180,000 at 2%, between $360,000 and $1million at 3%, above $1million at 4%.

Please refer to ‘buyer’s stamp duty’ at Loan Info page.

ABSD is depending on the number of properties one owned and if he/she is a Singaporean, a SPR or a Foreigner.

Please refer to ‘additional buyer’s stamp duty’ at Loan Info page.

Upon fulfilling the HDB minimum occupation period, you can purchase a private property and keep the HDB flat. Please note that ABSD applies and if the HDB flat has an outstanding loan, the second home loan loan-to-value ratio is reduced.

From 12 January 2013, PR households must dispose their HDB flats within 6 months of purchasing a private property. For purchase of uncompleted property, PR flat owners must dispose their HDB flat within 6 months from TOP or CSC, whichever is earlier.

Within 6 months from TOP.

No, the bridging loan has to be applied together with the housing loan.

There is no “standby” bridging loan, banks need to have the option to purchase of the sold property in order to approve the bridging loan.

Choosing a fixed or floating rate package will very much depends on your preferences and packages available. Both types of packages have their pros and cons.

Please refer to ‘features of fixed vs variable rate packages’ at Loan Info page.

Progressive payment is typically for building that are under construction (BUC).

Please refer to ‘progressive payment schedule’ at ‘Loan Info’ page.

You will only be serving the instalment based on the percentage of loan disbursed.

Yes. Banks and financial institutions can grant you a loan subject to your income and credit profile, after taking into account the CPF amount that was utilized including accrued interest, current valuation and outstanding housing loan.

No, HDB do not allow cash out (also known as equity or term loan) on HDB, cash out is applicable only to private property.

No, HDB do not allow cash out on HDB, cash out is applicable only to private property.

No, housing loan and term loan have to be within the same bank.

Only cash repayment on term loan portion.

Usually 1 month. For some banks, it is necessary to observe the rollover dates/review dates.

Yes, you can use from your CPF ordinary account, subjected to the eligibility including minimum sum, valuation limits etc.

For more information on usage of CPF for property financing, please refer to CPF website at www.CPF.gov.sg 

Usually 3 months. For some banks, it is necessary to observe the rollover dates/review dates.

There are application forms and supporting document required, and varied slightly depending on the purpose of financing.

Please feel free to contact us and we will be happy to update you with the application process and document preparation.

estimate 5-7 working days.

As long as the law firm is on the banks panel which you are taking the loan from.

Fees involved for refinancing includes legal, valuation and fire insurance fees, etc.

Please refer to ‘expenses involved on property acquisition and housing loan’ at ‘Loan Info’ page.

We provide unbiased analysis and make the process simple and easy-to-understand, while not forgetting your ultimate objective of saving money!

At sgloanadvisor, our service is totally free, as we are only paid by the bank separately if you apply the loan through us and accept the loan successfully.

sgloanadvisors is not a lender, and does not offer mortgages directly. Instead, we provide you with calculators and analysis and compare the most competitive rates at no extra cost at all.

We respect your privacy, so rest assured that your details are kept private and confidential.