| Read the PRIVACY policy please. This site uses the browser cookies, in order to improve this service. If you agree with this activity, then you may use this site. |
| Residential Property Loans FAQ
I have a private property that is fully paid up, how much can i remortgage it for a loan? Let's use a real life example. Assuming your property is worth $1 million. Depending on the financing quantum allowed by different banks, the maximum allowed by government regulation is up to 80% for your first property and up to 60% for your second and subsequent properties. Assume that the bank allows up to a 60% Loan to Value (LTV) financing quantum, and you have used about $150,000 of your CPF money, then the draft numbers will work out to be as follows: Valuation = $1,000,000 60% LTV = $600,000 CPF Used = $150,000 Nett amount allowed for cash out term loan = $450,000 The maximum amount of loan allowed to cash out for your private property is about $450,000 subject to the bank’s approval. The above is an illustration for the computation of your cash out term loan amount. Different banks may have different approving loan quantum. For more frequently asked questions, visit: http://www.mortgagesupermart.com.sg/resources/frequently-asked- questions, visit: To find out more about our products and services, visit: http://www.mortgagesupermart.com.sg |