Engaging a mortgage broker can be beneficial because we can help you find the best mortgage deal by comparing offers from multiple lenders, saving you time and potentially money in the process. We provide expert guidance throughout the mortgage application and approval process, making it less stressful and more efficient.

Occasionally, banks offer preferential rates on short notice. We make sure we extend this opportunity to our clients to get the best ideal packages available at the point in time.

Most importantly, our service is completely free. This is because we get a referral fee from the banks. There is no conflict of interest as the referral fees are the same across all banks.

Get started by getting an IPA (In-Principal Approval) to know your affordability to purchase a home. Do not sign any OTP (Option to Purchase) with homeowners or property agents. Lack of preparation will see buyers their deposits due to either a rejected mortgage loan application or a lower than expected loan quantum.

Upon issuance, an Option to Purchase (OTP) has to be exercised within 14 days. Failing to do so, the option fee will be forfeited. For private properties, the Sale and Purchase agreement (S&P) has to be completed within 12 weeks from the exercised OTP date.

This varies from borrower to borrower as everyone is different. Variables include whether it is a single or joint application, income, age, and personal credit bureau.

How do I find the market valuation of the property I am interested in?

We can assist you to get an indicative value of the property you are looking for. We work with multiple reputable valuers that can give you an answer within one working day.

Banks offer up to 20 – 30 years tenor to finance your property purchase.

The lock-in period for a residential mortgage can range from 1 year to 5 years. After the lock-in period, there will be a revision of monthly instalments and interest rates.

Repricing refers to renegotiating the interest rates on your existing mortgage with the current lender. Depending on your agreement with the bank, a free conversion to reprice might be offered. Otherwise, there will be a one time conversion fee.

Refinancing refers to replacing your existing mortgage with a different lender with different terms and interest rates. Refinancing will incur conveyancing and valuation charges. However, this will usually be subsidized by the lender you wish to refinance with.

A bridging loan is a short-term financing option used to bridge the gap between the purchase of a new property and the sale of an existing one. It provides temporary funds to secure the new property until the old one is sold, with the expectation that the old property’s sale proceeds will be used to repay the loan.

An Equity Term Loan allows owners to borrow money using the equity in their property as collateral. It is preferable to borrow with property as collateral as interest rates are at low prevailing mortgage interest rates.

Maximum Loan Amount = (Home’s Appraised Value x Loan-to-Value (LTV) Ratio) – Outstanding Mortgage Balance – CPF usage.

For example, if your property is valued at $1,000,000, you have an outstanding mortgage balance of $300,000, $150,000 CPF usage, and the lender allows an 80% LTV ratio:

Maximum Loan Amount = ($1,000,000 x 0.80) – $300,000 outstanding loan amount – $150,000 CPF usage = $350,000.

Please note that only private residential and commercial properties are eligible for an Equity Loan. HDB flats are not eligible.