Mortgage Service - Refinance Information

REFINANCE YOUR HOME LOAN

Most banks structure their home loans using step up rates. This means that the rates tends to become higher in the later years of the loan.

Many people tend not to think of their mortgages once they sign up the first time. The cost is not very noticeable, but it can be a lot over a few years.

Illustration of Savings with Refinancing your Housing Loan:

800,000 Outstanding loan

Interest rate: 3.5% fixed for 3 years.
Tenor: 30 years

Year	Mthly Installment	Principal Paid (For the month)	Interest Paid (For the month)	Total Principal Paid (For the year)	Total Interest Paid (For the year)	Balance
1	$3,592.36	$1,300.01	$2,292.35	$15,353.02	$27,755.27	$784,646,98
2	$3,592.36	$1,346.25	$2,246.11	$15,899.08	$27,209.21	$768,747.89
3	$3,592.36	$1,394.13	$2,198.23	$16,464.57	$26,643.72	$752,283.33

The Interest paid over 3 years is $81,608

If you are able to refinance your loan to a lower rate, for example:

Year 1 – Sibor + 1% (Where Sibor = 0.5%) = 1.5%
Year 2 – Sibor + 1% (Assume that Sibor = 1%) = 2%
Year 3 – Sibor + 1% (Assume that Sibor = 1.5%) = 2.5%

Year	Mthly Installment	Principal Paid (For the month)	Interest Paid (For the month)	Total Principal Paid (For the year)	Total Interest Paid (For the year)	Balance
1	$2,760.96	$1,785.33	$975.63	$21,277.43	$11,854.11	$778,722.57
2	$2,950.84	$1,683.53	$1,267.31	$20,018.45	$15,391.61	$758,704.12
3	$3,142.08	$1,597.61	$1,544.48	$18,953.58	$18,751.41	$739.750.55

The Interest paid over 3 years is $45,997.13

The savings over 3 years is:

$81,608 – 45,997.13 = $35,610.87

Singapore's Condo dwellers average household income is around $11,500 according to Singapore statistics.

This means an annual income of $138,000.

A Savings of $35,610.87 is around 26% of your household income.

Why waste this money when it could have paid for your wife's 2 carat diamond ring or alternatively be the down payment for your new car.

REFINANCE VERIFICATION

Property Buyer Mortgage Consultants will check if and whether you will derive any savings from refinancing. If you are unlikely to get much savings, we will let you know.

CAN I GET CASH-OUT FROM BY PROPERTY?

Yes, if your property is a Private property, it is technically possible to get CASH OUT from the property. CASH OUT is also called Term Loan or Equity Loan. We can help you borrow CASH from your property.

However Cash borrowed this way cannot be used for downpayment into your next property.

WHO is "PROPERTY BUYER"?

Property Buyer is a Mortgage Consultant and Buyer Advisor. We help property buyers and investors (be it individual or companies) to structure mortgage loans for their residential, commercial (Retail, offices) as well as industrial properties.

ARE WE PROPERTY AGENTS?

NO, we are not property agents. At least not now. (For the moment we are still unable to reconcile the conflict of interests that stems from property buying and selling.)

The one thing that we can do is to reduce the emotional aspect of property buying by providing research and fact based data to help our property buyers and investors make valuable and informed investment decisions.

There are many different types of residential units:

• Building under construction (BUC) Condominiums and Apartments
• Building under construction (BUC) Executive Condominiums
• Building under construction (BUC) HDB and DBSS
• Completed Condominiums and Apartments
• Completed HDB
• Heritage Residential cum shop-house dwelling
• Landed Property
• Strata titled Cluster housing

FREE MORTGAGE ADVICE - WHY SO GOOD?

There is no free lunch. We all need an income to support our families.

Property Buyer Mortgage consultant and broker acts like an outsourced banker, banks pay us a fee on successful loans completed, therefore we have decided not to charge a fee to our customers for residential loans. (We will inform you upfront in case there are any changes.)

The rates you get from us will be same as what you can get from the banks, and sometimes we get volume rates from the banks which are cheaper than what you can get.

TIME CONSUMING MORTGAGE LOANS SEARCH

There are 100s of loans and packages out there in the market. Doing this work is time consuming. Not only that, you will be required to submit multiple sets of documents to multiple people and track their individual progress.

This work is estimated to take 3 to 5 working days of your time.

Property Buyer provides you with a ONE-STOP Consultancy service and none of the hassle. Bankers tend to rush you, we are efficient, but unhurried and patient.

We even have personalised COURIER SERVICE which could pick up your hard copy documents and process it. Our consultants will also meet you to go through the PROS and CONS of each loan package short listed so that you understand all the financial and home loans jargon and it's implications.

THE PROPERTY BUYER DIFFERENCE – THE ADVISORY

Property Buyer not only helps the buyers in structuring and shortlist of mortgage home loans, but also provide a service many mortgage brokers cannot provide.

We provide Property Buyer Advisory.

The Property Buyer advisory service is also free of charge.

The Property Buyer Advisory service involves intensive research and advice:

• RESEARCH - Property targeted - Location and it's viability
• RESEARCH - Property valuation and estimated fair value
• ADVICE - Recommend safe bidding range
• ADVICE - Personal finances - Affordability check
• ADVICE - Personal finances - Loan Quantum estimate
• ADVICE - Loan discussion and Loan structuring
• RESEARCH - Confirm and check Property historical transaction value
• RESEARCH - Check Regulatory environment
• RESEARCH - Investment Yield sensitivity
• RESEARCH - Investment returns sensitivity
• RESEARCH - Historical price benchmarking
• SERVICE - Price Negotiation
• RESEARCH - Macro and Micro economic analysis
• RESEARCH - Supply and Demand Analysis

MEMBERSHIP AND ACCESS TO OUR CONSULTANTS

Our customers are our members and our friends. This membership gives you access to first hand research which we do every quarter. From time to time, our members will receive time sensitive research at least 2 weeks earlier than what our other readers will receive.

CONTACT PROPERTY BUYER MORTGAGE CONSULTANTS

WE RESEARCH, YOU SAVE

Please read our Disclaimer and terms and conditions of Service

Consider a Career with Property Buyer Consultants

Not simply Cheap, but what fits

PROPERTY BUYER ADVISOR PREMIUM

From time to time, property buyers may commission us to conduct more intensive property buying research. This service is called, PROPERTY BUYER ADVISOR PREMIUM. This is a FEE based consultancy and service. Read more about Property Buyer Advisor Premium.

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Mortgage Refinance Services