Mortgage and Refinance

Mortgage

No more worries on your house loan..No more troubled surveys on the various bank loans, we now offer free consultation on various loans available from various banks. All you need is to get your documents prepared, and thats all. Either you need the lowest interest bank or you prefer certain banks for your loans, we are ready to  manage it for you in order to save time and costs. Below are some info’s that you need to know before getting your dream house.

Purchasing your first dream house can be very exciting. However, one must consider properly before making such big step as it involves cash liquidity, location, budgeting and the cash for renovation, monthly installment, and other forms of commitment.

The first thing that comes into one’s mind when purchasing property is getting a loan. You need to do loan shopping on the packages offered, but beware not to be too emphasizing on the rates alone as you need to consider other factors such as type of loans offered, features,  bank charges and penalty as well as the service provided and the convinience in making loan payment.

Margin of financing

The amount of loan to be approved will be dependent on the market value of completed properties or the purchase price of the house (whichever is lower). The margin of financing of the house can go up to 95% of the house value considering the few factors : Type of property,location, age of borrower and income of borrower

Tenure

The length of loan repayment period can range from 30 years or till the borrower reaches the 65 of age whichever is earlier.

Fees and charges

Below are the common charges which to be incurred but may be subjected to changes. There are two types of loans. Those who are taking zero moving packages will be excluded from legal fees, stamp duty, valuation fees and processing fees. However, the interest of the loan will be usually higher than those non zero moving loan packages.

Insurance

It is essential to take up insurance to protect your dream house and your family as a sense of financial security if unfortunate event occurred. MRTA allows the full settlement of your outstanding balance of your house loan in the event of death and total permanent disability, which means that in the cases of death and TPD of the borrower, you do not need to pay for your house loan anymore. It would be fully paid up by insurance company.

Early Terminantion Penalty

The financial institution would impose a penalty charge if the loan is settled earlier than the agreed term. You should check out on the terms and conditions of the loan offered.

Documents needed