Residential Home Loan
Buying your first residential home could be one of the most daunting experience you will ever face. Not only the sum of money involved is high and it is probably your most expensive purchase till date. Residential home loans are applicable for the various types of properties, such as HDB resale, HDB new, HDB Built-to-order (BTO), HDB (DBSS), Executive Condominium (EC), Private Apartments, Private Condominiums, Landed housing and Small Office Home Office (SOHO).
Different classes of residential properties have different conveyancing processes. For HDB, the valuation is done after the Option-to-purchase is completed (in other words, you buy first not knowing how much is the valuation). For private residential housing, you obtain a "desktop" valuation and then make an offer-to-purchase. For landed housing, the valuations vary more as there are more subjective factors such as façade, decoration, design, age of renovation or Alterations and Amendments or re-build.
It is very easy to overpay when you are not familiar with all these.
iCompareLoan Mortgage Consultants
will hand-hold you through the process of getting a residential property "desktop" valuation to assist you in buying at fair value. Guide you through the cash flow affordability and in shortlisting the best fit residential home loan packages for your home purchase. All these shortlisted home loan packages are compared based on Home Loan Interest Costs with its various penalties, claw back of subsidies explained. You have a much higher chance of getting the best home loan rates via a mortgage broker than with anyone else.
A mortgage broker saves you days of work compared to you doing the searching yourself.