A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    Hong Leong Finance Home Loan Singapore

    Hong Leong Finance (HLF) offers 3 home loans at competitive interest rates. The plans are based on the type of property you plan to own. The tenures can go up to 30 years. You can also enjoy other benefits such as personalised services and exemption from Total Debt Servicing Ratio (TDSR).

    Home Loans Offered by HLF

    Interest Rates Offered Under Each Loan

    Product Tenure Interest Rates
    HDB Home Loan Up to 30 years or when the customer turns 70 years, the earlier of the two.
    • Variable rate package: 1.85% p.a. to 3.40% p.a.
    • Fixed rate package: 1.88% p.a. to 3.40% p.a.
    Private Property Home Loan Up to 30 years or when the customer turns 70 years, the earlier of the two. 2.10% p.a. to 3.33% p.a.
    Mortgage Equity @50 NA NA

    Types of HLF Home Loans

    • HDB Home Loan: This loan offers financial aid of up to 75% of the property price when you are purchasing a flat from the Housing and Development Board (HDB). Through this plan, HLF provides a higher loan quantum at affordable rates. You can choose the interest rates from the 2-year fixed package, the 3-year fixed package, and the variable rate package. You can also enjoy personalised assistance service from a relationship manager appointed by HLF. Taking out the HDB Home Loan is subject to MAS 825 and Mortgage Servicing Ratio (MSR).
    • Private Property Home Loan: This plan provides financial aid of up to 75% of the property price at competitive floating rates when you are purchasing a private property. You can also enjoy personalised assistance service from a relationship manager appointed by HLF. Taking out the Private Property Home Loan is subject to MAS 825 and TDSR.
    • Mortgage Equity @50: This is a term loan that you can take out on your private property when you are in need of cash. If the loan amount is less than 50% of the value of your property, you will be exempt from TDSR. You can make a capital prepayment, so as to save on the loan interest, without paying penalty. Variable and fixed interest packages are available for this loan.

    Features and Benefits

    • A bridging loan is offered with the HDB Housing Loan to aid your down payment. This can be used if you have sold an existing property and are waiting for the sale proceeds.
    • Those who apply online for an HDB loan of at least S$150,000 will receive dining vouchers of worth S$200 that can be used in Copthrone King’s Hotel, M Social, and Grand Copthrone Waterfront Hotel.
    • The procedure for an add-on loan application on Mortgage Equity @50 involves only filling a simple form and submitting CPF statements and identity proofs.

    Eligibility Criteria

    The eligibility criteria for borrowers who want a loan from HLF are:

    • He/she can be a citizen of Singapore, Permanent Resident, or a foreigner.
    • For Mortgage Equity @50, he/she must own a private property that is either occupied by them or is an investment, and the loan to value ratio is 50% and below.

    Documents Required

    • Passport/copy of NRIC/work permit/employment pass.
    • Income tax assessment.
    • CPF statement.
    • Statements of all outstanding credit facilities.
    • Tenancy agreement, HDB flat details, option to purchase, and validation valuation report, wherever applicable.
    • Evidence of income (payslips/CPF contribution history for 15 months/bank statements/employment letter).
    • Recent statement from existing HDB/financier, if applicable.
    • CPF Public/Private Housing Scheme Withdrawal Statement.
    • Copies of the ‘Account Summary’ and ‘My Property Portfolio’ from your myTax Portal.

    How to Apply for a Home Loan

    • Visit a branch of HLF along with all the necessary documents and discuss your needs with the manager.
    • Download the application form from their official website.
    • Select the home loan you need, fill out the form accordingly, and submit it.
    • Once it is approved, accept and sign the offer letter.
    • Get your mortgage documentation done by an HLF panel lawyer and sign the papers.
    • The lawyer will ensure the documentation is in place and then instruct HLF to disburse the loan.
    • HLF will disburse the amount and you will receive it in the form of a cheque or a cashier’s order.

    Contact HLF

    • You can call them at +6565796777.
    • You can submit your contact details in their official website and get them to call you back.
    • You can also visit a branch nearby and enquire about home loans.

    Get a housing loan with an interest rate as low as 1.85% p.a. and get your dream house. If you are doubtful about your financial conditions, make use of the competitive interest packages and 30-year tenure to steadily repay the amount.  

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