Property Details

Answer a few questions to permit us to give you a clear idea of what your mortgage could look like. We will provide you a selection of the best loans for your dream home and a dedicated Mortgage Specialist will be available to help you secure your loan on time. It will take less than 10 minutes and it's free!

Frequently Asked Questions

  • What does refinancing mean?
    This is when you have an existing home loan, but want to replace it with a loan with different terms, e.g. lower interest rate.
  • What is the Option Fee?
    Once you make up your mind about the property, you would pay the Option Fee to secure the Option to Purchase (OTP) it. If you go through with your purchase, it is part of the downpayment. You can change your mind after this point, but you will most likely have to forfeit the option fee in that case. The fee ranges from $500 to $2,000 for booking a HDB flat and 5% of the purchase price for booking an EC unit. For private property, the Option Fee is usually 1% of the purchase price.
  • What is Home Loan Eligibility (HLE)?
    You will need to apply for a HLE letter from HDB before you can buy an HDB flat (whether new or resale). This document calculates how money much you can loan from HDB, as well as other terms and conditions, and is valid for 6 months. The official HDB website has full details on HDB eligibility.
  • Will I have to fork out lawyer’s fees for all the paperwork?
    Yes. It used to be that banks offered subsidies for such legal fees, but today this is no longer the case. You will need to fork out about $2,000 to $3,000 for legal fees when working with a bank-appointed lawyer, payable with CPF savings or cash. The cost of legal fees vary depending on whether the loan is a for HDB or private properties.
  • What happens if I already have an existing home loan under my name?
    If you already have an existing home loan under your name and are applying for a second loan, expect that the loan amount you can borrow to be halved. An LTV of only 45% and below is permissible in such cases.