Now, if you have job stability, you could take advantage of the moment and financial and academic adviser of School of Commerce explains that the most convenient place to apply for a loan is where the debtor has a business relationship, since they know his record, although he always calls to quote.
Even, if the original financial entity charged additional interest or some extra dividend quotas, as a disincentive to the transfer of the debt to another entity, it could be equally convenient for the debtor. Now with good at mortgage loan Singapore you can have the best deals now.
The real estate consultant provides some tips to guide those who plan to apply for a mortgage loan to acquire a property.
Make the decision in time: A mortgage is a debt that is assumed for a long period, so it must be a decision thought and analyzed seriously.
Always quote: It is preferable to compare between several institutions, in addition to the interest rate, the total cost of credit and dividend value. It should be remembered that in addition to banks, there are mutual, cooperatives and compensation funds that make loans of this type.
Having a pre-bank approval: It is important that people first know how much the bank will lend to them in the event they want to buy a property and then go out to look for it with certainty and clarity.
Lower the line of credit and close the largest number of cards: Financial institutions see the available quota of the line of credit and the cards as potential borrowers’ debt. And when they calculate the amount to be lent, they subtract the amount available in both products.
Not having consumption credits: These credits subtract points when evaluating the capacity of indebtedness and the financial entities could approve a mortgage credit lower than requested.
Maintain a good financial behavior for one year: The entities analyze all the banking history of up to two years before the mortgage loan is requested, so having a correct financial behavior for one year can facilitate access to a credit.
Have some type of patrimony: The bank evaluates the patrimony when they ask for a mortgage credit, reason why the debts cannot be greater to him. On the contrary, having equity and not having any debt will help the amount of the credit to be greater.
Have savings: Banks add savings as assets and this shows that the salary is enough to live and save. Consequently, the bank understands that the person is competent when it comes to paying and that he has the capacity to borrow.
Not having the line of credit occupied: When seeing that the line of credit is used, the bank understands that the salary is not enough to cover the needs of the applicant, so that the latter probably does not fit with the client’s profile. I would give him a mortgage loan.