Your home can be the place where you will conceive your dreams and then work towards turning them into reality. It is the place where you can come back from after a hard day of work and then relax with your family and friends. Buying a house in today’s world is not an easy task as all kinds of houses are very expensive these days and you may not have access to the required finances to purchase a house of your own. In such a scenario, you can always apply for a housing loan and then get the required finances to purchase the house that you desire. SIF housing loans can help you to easily get the money required for your real estate purchase and will also offer you with other beneficial features.
Salaried / Self-employed with regular income
$50,000 per annum for foreigners
EMIs of other loans lower your eligibility
Make your spouse a co-applicant, and her income will add to your eligibility
Choose longer tenure loan up to 25 years
Alternatively add your parents
|Max Loan Tenure||5 years|
|Monthly EMI||80% of the net purchase price or valuation|
Sing Investments & Finance Limited is a popular financial institution in Singapore that offers various types of loans and investment options. The institution offers housing loans, construction loans, commercial property loans, and loans to purchase HDB flats to Singaporeans and Permanent Residents. Let’s take a detailed look at what you can expect from applying for a property loan product with SIF.
If you want to take advantage of a hassle free application process and also get access to a range of benefits such as higher loan amounts, minimum documentation and so on you should apply for a housing loan with Sing Investments & Finance Limited. The applications are processed within no time and on approval, the loan amount will be credited directly to your bank account. You will also get the advantage of choosing from a variety of housing loans offered by the company. Besides, you will benefit from the excellent quality of service that they will provide you with.
SIF HDB Loan
The SIF HDB Loan allows you to purchase your own HDB flat – either a new one built-to-order or a resale flat. The loan comes with flexible tenure periods that stretch up to 35 years. A loan amount of up to 80% of the property’s value is made available.
SIF Housing Loan
The SIF Housing Loan lets you purchase your own private property in Singapore. Interest rates are affordable and tenures can be chosen depending on convenience in making prolonged repayments, and the loan amount involved. In this case too, SIF will fund up to 80% of the value of the property.
SIF Commercial Property Loan
Commercial property loans come with a tenure stretching up to 20 years. SIF will fund up to 80% of the property’s valuation. The minimum income criteria needs to be met if you have to apply for a commercial property loan with SIF.
SIF Land and Construction Loan
The land and construction loan offered by SIF lets you construct your own home in Singapore. This can be taken for both private construction and commercial construction. Interest rates are highly attractive and are pegged to the SIF base rate.
SIF Bridging Loan
The SIF Bridging Loan helps you pay the down payment amount on your HDB loan if you are expecting sales proceeds from an existing property. Once funds from the property sale are received, you can close the bridging loan with SIF.
Interest rates are pegged to the SIF base rate, which itself is subject to change from time to time. The current SIF base rate is 2.44% p.a.
You can apply for a loan from SIF by visiting the official SIF Singapore website and downloading the application form available online. You can fill out the application form with your details and subsequently submit your form along with your supporting documents. You can also visit an SIF branch in Singapore and physically fill out the application form, and submit your documents.
You can make repayments towards the loan through internet banking. You can transfer funds to the beneficiary account before the monthly payment due date.
A. Yes, you can make the down payment amount (minimum 20% of the value of the property intended to be purchased) through funds in your CPF account.
A. SIF can alter the base rate and adjust it to meet market expectations. Rates can be subject to change at multiple times during the tenure of the loan.
A. Yes, you can pre-close your loan application before the expiry of the originally decided tenure at an additional charge. SIF will intimate you on how much you’ll have to pay to pre-close your loan.
A. You need to separately purchase insurance for the loan amount. SIF does not provide you with an insurance cover along with your home loan application.
A. With an SIF HDB Home Loan, you can avail up to 80 percent of the market value or purchase price of the property (whichever is lower) as a loan amount.
A. In order to apply for a Sing Investments & Finance Limited Housing Loan, you will first need to download the application form from their website. After that, you will need to fax a duly filled copy of the form along with the required documents. Once the company receives your documents, your loan application will be processed within a few days.
A. With a Commercial Property Loan from SIF, you can avail a maximum loan repayment period of 20 years.
A. Yes, you will be allowed to utilize your CPF balance to pay for the instalments of your HDB Home Loan from SIF.