• Hong Leong Finance Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Hong Leong Finance Home Loan

    Have you always dreamt of having your own house? Well, now it’s time to turn that dream into a reality with the Hong Leong Finance Home Loan. A host of advantages like flexible loan tenure, high quantum of loan make the HLF Home Loan one of the most popular housing loans in Singapore.


    You’re probably eligible for an HLF Home Loan if you are

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    HLF Home Loan Minimum Age

    No Info

     HLF Home Loan Maximum Age

    Up to 70 Years

    HLF Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    HLF Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your HLF Home Loan amount eligibility is based on these factors

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    HLF Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    HLF Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    HLF Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible HLF Home Loan amount by these steps

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    HLF Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    HLF Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    HLF Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an HLF Home Loan

    • 1. Copy of NRIC/Passport of all Applicants & Owners
    • 2. Latest Computerised Payslip (salaried)
    • 3. CPF Statement – Latest 12 Months Contribution History (salaried)
    • 4. 2 Years Income Tax Assessment (self-employed)
    • 5. Option to Purchase or Sale & Purchase Agreement (for new purchase)
    • 6. Tenancy Agreements (if any)
    • 7. Evidence of sale of existing property (if applicable)

    HLF Home Loan DetailsUpdated on 29 Jul 2017

    HLF Home Loan Details
    Interest Rate 4.50% p.a
    Margin of Finance Up to 80%
    Loan Tenure 30 years

    About Hong Leong Finance Home Loan Singapore

    Hong Leong finance (HLF) was founded in the year 1961 as a Small and Medium Enterprise (SME), which has now evolved as one of Singapore’s largest financial organizations. HLF is the financial services subsidiary of the Hong Leong Group, Singapore and provides financial solutions not only to retail customers, but also business enterprises. With a distribution network of 28 branches, HLF offers an extensive array of financial products and services which range from deposits and savings, corporate and consumer loans, government assistance programmes for SMEs to corporate finance and advisory services.

    The HLF Home Loan is one of the best options available for financing a new home or property. One of the notable benefits which you get with this home loan includes high loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure. Along with that, you also get the flexibility to pay back your loan for a term of up to 30 years or up to your age of 70 years, whichever occurs first.

    Why choose HLF Housing Loan?

    To ensure maximum return on your investment and enjoy multiple benefits, you should choose HLF home loan. The home loan offered by HLF provides high loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure. Along with that, you also get the flexibility to pay back your loan for a term of up to 30 years or up to the age of 70 years, whichever occurs first.

    Types of Hong Leong Finance Home Loan

    • HDB Home Loan

    • The HDB home loan is applicable for HDB properties. It helps people secure their own home easily. Avail of promotional interest rate with 2 or 3 years fixed rate packages that are lower than the prevailing HDB Concessionary Loan Rate.

    • HomeBliss Loan

    • This loan is directed to customers who are seeking private property. For both completed and uncompleted property, HLF offers a variable interest rate package.

    Hong Leong Finance Home Loan Features and Benefits

    • Provides a loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure.
    • Offers flexibility to pay back your loan for a term of up to 30 years or up to the age of 70 years, whichever occurs first.
    • Offers attractive and affordable interest rates
    • The website offers unique features like HDB home loan calculator. It helps you in figuring out the EMI amount depending on the amount and tenure of your loan.

    HLF Home Loan Interest Rates

    Interest rates are one of the most important factors when it comes to home loans, as they determine the EMI which you would be paying to the bank thereafter. HDB Home Loan offers some of the most competitive interest rates in the industry to help you finance your dream of a new home. The HDB Home Rate (HHR) is currently 4.50%. The HDB concessionary loan rate is 2.60% p.a. These rates can change without proir notice.

    The interest rates for the HDB home loan is available in two variants – the 2-Year Fixed Rate Package and 3-Year Fixed Rate Package. These are promotional interest rates and are subject to change without prior notice.

    2-Year Fixed Rate Package

    Period Interest rate per annum
    1st year (Fixed rate) 1.88%
    2nd Year (Fixed rate) 1.98%
    3rd year (HDB home rate - 2.05%) 2.45%
    4th year onwards (HDB home rate - 1.25%) 3.25%

    3-Year Fixed Rate Package

    The 3 year fixed rate of interest is applicable to 3-room HDB flats and above for a minimum loan amount of S$100,000.

    Period Interest rate per annum
    1st year (Fixed rate) 2.10%
    2nd Year (Fixed rate) 2.30%
    3rd year (Fixed rate) 2.55%
    4th year onwards (HDB home rate - 1.25%) 3.25%

    There is only a variable rate package available for the HomeBliss Loan. The private Property Rate (PPR) is currently at 3.70% p.a.

    Period Interest Rate per annum
    1st year (PPR - 1.60) 2.10%
    2nd Year (PPR - 1.60) 2.10%
    3rd year (PPR - 1.27) 2.43%
    4th year onwards (PPR - 0.37) 3.33%

    Hong Leong Finance Home Loan Promotional Interest Rates

    Enjoy a fixed interest rate of 2.00 percent per annum for the first year when you opt for a Hong Leong Finance Home Loan. You will also enjoy very attractive rates for overall loan as given below. In fact, rates offered will be lower than the HDB Concessionary Loan Rate and so you will be able to save a lot of money on interest cost for the loan.

    Period Interest Rate
    First Year 1.85 percent per annum (HHR - 2.65)
    Second Year 1.95 percent per annum (HHR - 2.55)
    Third Year 2.45 percent per annum (HHR - 2.05)
    Thereafter 3.25 percent per annum (HHR - 1.25)
    1. At present the HHR or HDB Home Rate is 4.50 percent per annum.
    2. At present the HDB Concessionary Loan Rate is 2.60 percent per annum.
    3. The rates mentioned above can be changed by the bank at any time without any prior notice.

    In order to apply for the HDB Home Loan, you need to furnish the following documents.

    Basic Documents

    • Completed and duly signed HLF Application Form
    • Copies of the applicant’s NRIC (National Registration Identity Card)
    • Option of Purchase
    • Valuation Report duly signed by the Assigned Valuer
    • Most recent CPF account statement (If CPF usage involved)
    • Recent statement of CPF Public Housing Withdrawal Scheme for an existing property (if applicable)
    • Latest loan statement from your existing financier (in case of refinancing)
    • Option to Purchase for sale for existing property (if applicable)
    • HDB / Bank Account Statement of any existing property (if applicable)

    Income Documents

    Salaried Individuals – Latest CPF Statement of 15 months contribution history & most recent digitized payslip

    Self-Employed Individuals - Last 2 years Notice of Tax Assessment & bank statements for the last 12 months.

    HLF provides a host of other products to its customers for investment and credit.

    Deposits and Savings

    • Fixed Deposits
    • Silver 40 Plus
    • Golden 55 Plus
    • Short Term Fixed Deposits
    • Savers Plus
    • Savings Accounts

    Loans

    • New Car Loan
    • Used Car Loan
    • Credit Plus Share Loan
    • Express Share Loan

    Frequently Asked Questions (FAQs) - HLF Home Loan

    No, any bridging loan can’t be granted for this amount, and the difference amount must be paid in cash.
    Yes, you can avail a maximum loan of up to 80% of the purchase price of the flat or its valuation, whichever is lower. The valuation must be determined by an HDB assigned valuer.
    Yes, a bridging loan can be granted depending on the assessment of your loan eligibility. Having said that, a bridging loan can’t be granted singularly without a term loan.
    Yes, you can use CPF savings towards the purchase of a new HDB flat. Not only that, payment for stamp duty, repayment of bridging loan, EMIs, legal fees are subject to CPF Board’s policy on usage of CPF savings.

    News About HLF Home Loan

    • Hong Leong Finance Loan Promotion

      Run Time – It is an ongoing offer.

      Particulars – Take a HDB Home Loan from Hong Leong Finance and avail attractive rates of interest which are as low as 2 percent per annum. This interest rate will remain fixed for the initial two or three years.

      The two year interest rate package provides –

        • 2% fixed interest rate per annum for the first year

        • 2.20% fixed interest rate per annum for the second year

        • 2.45% fixed interest rate per annum for the third year. This rate is calculated by subtracting the current HDB Home Rate with 2.05

        • 3.25% fixed interest rate per annum after the third year. This rate is calculated by subtracting the current HDB Home Rate with 1.25

      The three year interest rate package includes –

        • 2.10% fixed interest rate per annum for the first year

        • 2.30% fixed interest rate per annum for the second year

        • 2.55% fixed interest rate per annum for the third year

        • 3.25% fixed interest rate per annum after the third year. This rate is calculated by subtracting the current HDB Home Rate with 1.25

      Terms and Conditions –

        • The offer is available for a minimum loan amount of SGD 100,000

        • The offer will be applicable for three rooms and above HDB flats

      To get more information about the offer and its terms and conditions, please contact Hong Leong Finance or visit their website.

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