Buying a residential property in Singapore is not easy not because of the high monthly fees, but also because of the numerous paperwork to be process. So, you need to work with an expert who can help you get the best home loan deals and make the whole loan application processes easier for you.
At Dollar Back Mortgage, our home loan mortgage brokers can give the right assistance to struggling soon-to-be homeowners. Our team is composed of ex-home loan specialists (mortgage bankers) who are also coordinating with interest rate product managers, credit policy managers, credit approvers, and law firms. With a competitive team of financial specialists, we can assure that we will be able to guide you accordingly throughout your home loan application.
Our partnership with 16 major banks in Singapore gives us access to over 145 home loan packages every month. With this, it would be easier to find the most suitable home loan for our clients nationwide.
Our Mortgage Loan Services
We at Dollar Back Mortgage provide various HDB or private home loan services. This includes Property Valuation, Income Eligibility, TDSR Analysis, and MSR Analysis. Read below how can our services benefit you when you apply for a private mortgage home loan in Singapore.
Property Valuation
When purchasing a new HDB property, you should make sure first that the bank indicated value and the purchase price on your OTP (Option to Purchase) is the same. If it is different, the bank will most likely grant you a low home mortgage loan rate. To make sure that you will be able to maximise your home loan amount, you have to present to the bank the real value of the residential property that you are planning to purchase. However, this is a
time-consuming and costly process.
There is an alternative that can make things easier for you. You can hire our mortgage brokers and they will find a private home loan that matches the purchase price on your OTP. We can make this possible with our extensive network of bank affiliations in Singapore.
Income Eligibility
If you are self-employed, then it would be difficult for you to get a private home loan with a high loan amount. This is because most banks exclude your monthly allowance as a part of your monthly gross salary. If this is the case, don’t worry. You can still get your desired loan amount with our mortgage loan services. With our connections, we can find the top 5 banks that are most suitable for your current financial situation. We will make a comparison between these banks so that you will be able to get the best mortgage loan interest rate in Singapore.
TDSR and MSR Analysis
Banks will consider first your TDSR (Total Debt Servicing Ratio) or MSR (Mortgage Servicing Ratio) limit before granting you a private home loan. If the bank found that your total monthly debt payments exceeded 60% of your monthly salary, then they will most likely not grant you a private home loan. Don’t give up on getting a home loan if this happens. We at Dollar Back Mortgage can give you strategies for you to get a private home loan.
So, if you are having a hard time getting a private home loan, you can always come to us and we will help you find the best housing loan in Singapore. If you want to know more about our services, visit our website now at https://dollarbackmortgage.com/.
