Be assured of securing the maximum home loan needed before placing the Option Fee for your new private property. Our preliminary IPA process can be done in as fast as 15 mins. Get bank indicated property valuations from us to ensure that you get a fair deal and be guaranteed of professional conveyancing through our partner law firms.
Our mortgage consultants will recommend various strategies and negotiate for exceptional conditions for your mortgage with major banks in Singapore, to make sure you have the freedom and ability to meet your future property goals and be well prepared for any personal financial changes. Enjoy exclusive rewards offered by us for your new private home loan.
DollarBack Mortgage tracks the lock in period of your home loan for you so that you get alerted by our mortgage consultants before your lock in period ends. We then start the process of getting you the best home loan deal in Singapore so that you don’t pay a single day of higher interest.
The maximum loan to value (LTV) for your first private property in Singapore is 75% and the corresponding maximum tenure is 30 years. If you wish to extend your tenure up to the regulatory limit of 35 years, your LTV will then decrease to 55%.
The amount of CPF that can be used as the initial down payment will depend on the loan amount you qualify for. Assuming you qualify for the maximum loan amount of 75% of your purchase price and taking into account the mandatory 5% cash down payment required, the balance 20% can then be made with your CPF funds in your Ordinary Account (OA).
A bank provided property valuation determines the maximum housing loan amount for both a refinancing and new property purchase. While looking at recent resale transactions through publicly available sources can provide an indication, a bank indicated property valuation is the most accurate.
Our partner conveyancing law firms provide discounted fees which include CPF fees, mortgage stamping, stamp fees and GST. Legal fees range from $2,00 to $2,300 for a new private property purchase.