Jul 31 2012, 01:47 PM
QUOTE(Chris Chew @ Jul 24 2012, 02:36 PM)
OC had such reno loan since long time ago.
The approval of reno loan was based on their customer grading in 5 lvls.
Lvl 1 : up to 30% of S&P price
Lvl 2 : up to 20%
Lvl 3 : up to 10%
Lvl 4 & 5 : not eligible
Lvl 1 is not easy and very hard. Heard only assigned to self employed only.
My CCRIS was quite clean and facilities all '0' arrears. Only Lvl 3. But the rate is equivalent to P. Loan so, not taking it.
must the reno loan applied together with the home loan, or it can be applied when the house is finished built and ready for renovation?The approval of reno loan was based on their customer grading in 5 lvls.
Lvl 1 : up to 30% of S&P price
Lvl 2 : up to 20%
Lvl 3 : up to 10%
Lvl 4 & 5 : not eligible
Lvl 1 is not easy and very hard. Heard only assigned to self employed only.
My CCRIS was quite clean and facilities all '0' arrears. Only Lvl 3. But the rate is equivalent to P. Loan so, not taking it.
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