If both same mrta, choose your preferred bank or nearest to your area one.
If one is higher than another, compare the coverage and see if you need that much coverage.

Coverage amounts and years are same?

This post has been edited by apalexar: Oct 28 2021, 08:01 AM

If coverages are all the same, then I will just pick the lower price one, just be careful some hidden tnc before you proceed.

What's the best rate can get now for 600k refinance? Tq

Can pm which bank? Need include any mrta/mlta? Prefer opt out the insurance part because already bought one myself.
Tq.

Current loan rate is 3.95% (after opr in Nov), hsbc offering 3.73%, 600k, no mrta/mlta, lock in 3 years, think it's a good deal

If not stated then no cap, borrow 500k can deposit 500k to offset full interest.

If offset cap present then normally should have listed in OL, at least my OL from two diff banks got listed (not tiger bank).
Anyway usually semi-flexi won't have offset cap as there will have charges when perform withdrawal.

Rate 3.73% for 600k refinancing, I assume this is best rate among all banks for now?

Lowest among 3 banks so far, and if compare to other member's posts here seems like still the lowest.
Going to sign LO next week

This post has been edited by apalexar: Nov 18 2022, 10:43 AM

For those taking loan for property that's under construction:
Let's say your property will be completed in 2 years later while you had apply 35 years loan, the monthly instalments will be calculated based on 33 years instead 35; hence, the longer the construction period, the higher the monthly instalment amount later, new buyers may take notes on this.

Ps: sifus may correct me if there's anything wrong mentioned above.

If the construction delay and take 3 years, buyer will pay progressive interest for 3 years and monthly instalments based on 32 years; If the building somehow couldn't complete due to developer financial issue, buyer will stuck at paying progressive interest until the loan expiry date, isn't that so?

Weird, my loan tenure 35 years total, 1st progressive interest payment started in Sept 2019, 1st monthly instalment in early 2021 and loan expiry date show Sept 2054, something went wrong?

Err early 2021 or lets say Jan 2021 to Sept 2054 is actually 33 years 8 months

Just read back my LA, the tenure term listed "420 months from first disbursement" so everything is correct
New applicants need to take notes on this term whether tenure start at first/full disbursement.

If not mistaken mine only show loan expiry date instead 420months, anyway just signed new LO today and going refinance to other bank soon

This post has been edited by apalexar: Nov 21 2022, 09:23 PM

Can, the person borrow loan must be one of owner.

Yeah not joint loan.

It's better you inform the banker on the changes before sign the loan letter offer or else bank still can cancel it if figure out there's mismatch of information provided.

First you sign the LO, then lawyer start prepares LA for you to sign, after that only bank appoint valuer to do valuation and that time you need pay the fees.