Home Mortgage Tips That Will Make Your Life Easier Even After Your Purchase of Piermont Grand Sumang Walk EC

Taking out your first home mortgage loan is incredibly stressful. It’s better to deal with lenders armed with knowledge; it will help you to make informed decisions. This article is a guide for you as you begin the process of applying for a loan, so check it out.

Organize your financial life before going after a home mortgage. If your paperwork is all over the place and confusing, then you’ll just make the entire mortgage process that much longer. Do yourself and your lender a favor and put your financial papers in order prior to making any appointments.

Get your documents in order ahead of applying for a new mortgage. All lenders will require certain documents. Tax documents, bank statements and pay stubs will likely be required. If these documents are ready, your process will be smoother and faster.

Piermont Grand EC Sumang Walk Singapore BCA Awarded Private Developer

The reporter of newspaper St, went to Punggol Waterway Point to make a survey with 100 potential property upgrader for the next 2 years, and after a polling results, many are bullish about the new upcoming executive condo in Sumang Walk coupled with a branded developer, CDL as the builder for this project. It was highlighted that, Piermont Grand (the name of the Sumang Walk EC), will be launched in H2 2019. Price is not released yet and believe that it going to be at the range of $1,200 psf which will be a record price and hence mortgage factors should be handled with a lot of care. Talk to your banker, and Property Agent on how to leverage on your mortgage eligibility.

Refinancing a home mortgage when interest rates are low can save you thousands of dollars on your mortgage. You may even be able to shorten the term of your loan from 30 years to 15 years and still have a monthly payment that is affordable. You can then pay your home off sooner.

Make sure you’re not looking at any penalties when you apply for a new mortgage. Your old mortgage may impose fines for early payment, which can include refinancing. If there are fines, weigh the pros and cons before getting into a new mortgage, as you may end up paying a lot more than you expected, even though refinancing means a lower monthly payment.

Check out the interest rates for 15, 20 and 30 year term lengths. Many times the shorter the term length the lower the interest rate. Although you may think you payment will be higher on a shorter term loan, you can actually save money on your payment by choosing a lower interest rate and a shorter term.

If you’ve gotten approved for a mortgage, don’t make any other big purchases until after you’ve closed on your home. Typically your lender will pull your credit once again right before closing. If there are issues that crop up it could lead to problems with your closing. Be smart and curb spending until all is complete.

One type of loan that is not normally talked about is an interest only loan. This type of loan allows you to make low monthly payments for a certain period, then the payment amount increases. These loans are generally used to help you get into a home at a low monthly payment.

Make sure you’ve got all of your paperwork in order before visiting your mortgage lender’s office for your appointment. While logic would indicate that all you really need is proof of identification and income, they actually want to see everything pertaining to your finances going back for some time. Each lender is different, so ask in advance and be well prepared.

Consider having an escrow account tied to your loan. By including your property taxes and homeowners insurance into your loan, you can avoid large lump sum payments yearly. Including these two items in your mortgage will slightly raise the monthly payment; however, most people can afford this more than making a yearly tax and insurance payment.

Some financial institutions allow you to make extra payments during the course of the mortgage to reduce the total amount of interest paid. This can also be set up by the mortgage holder on a biweekly payment plan. Since there is often a charge for this service, just make an extra payment each year to gain the same advantage.

Shady mortgage lenders should be avoided. Many of them are legitimate, but there are others that will do what they can to get the best of you. Stay away from those fast talking lenders who try and rush the deal through. Don’t sign any documents if rates are too high. Some lenders will claim that bad credit ratings won’t be a problem. Be weary of these lenders. Finally, never lie on an application, and watch out for lenders who tell you otherwise.

If you are thinking abut changing jobs, try to wait until after your loan approval process is over. This is because the underwriter will have to go through the employment verification process all over again. They will also require you to submit paycheck information, which means that you would have to put the loan off until after you are paid a few times.

If you are thinking about refinancing, then now is the time to do it. Do not procrastinate. When rates drop, you need to get in while they are low. While rates may stay low for a little while, they will eventually go up. So do not delay when interest rates are low and go ahead and refinance.

There is so much to learn about home mortgages. Using the information in this piece should put you ahead of the pack. When you are ready to take out a loan for your home, keep these tips in mind and they can help you make the best decisions.

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If You Are Hunting For Good Condo Start By Reading These Tips

Most people buy real estate at least once in their lives. It is essential that you understand what you’re doing so you don’t get tricked. Take time to research the protocol of purchasing real estate so you’ll understand the process. Follow this advice to assist you avoid frauds while obtaining the very best possible deal when buying properties.

For about three to six months before you buy a new real estate like the Montville Condo By Qingjian, do not make any other large purchases or make drastic changes to your account balances. You should avoid taking any major chances with your credit profile during this time. In order to get a great loan, you should make an effort to prove to lenders that you’re reliable and can provide a great paper trail. So, avoid applying for just about any new credit cards, increasing your credit balances, or making extravagant purchases, because such actions can make it harder to get approved for a mortgage.

Loan qualification

A buyer who is pre-qualified and a buyer who is pre-approved for loans are two different cases. Anyone can be pre-qualified, but money is just awarded to those purchasers who are pre-approved. Being pre-approved, however, involves the process of being evaluated by a financial institution to find out how much you are allowed to borrow. The better option is to be pre-approved, because it means you’ll only be looking at properties you could truly afford.

Don’t rack your brains trying to determine whether the market is low or high or attempting to find out the optimum time to buy. Attempting to tell in advance when the best market condition will occur is ridiculous. The best time to buy is the time when you find your optimal real estate and you could deal with the cost of it. The cycles in the real estate market go up, down and up again all the time.

Plan carefully

If you let your heart overrule your head when buying real estate, you’re likely to be disappointed. Falling in love with something may lead you to making some pretty bad decisions financially. That doesn’t mean that instincts shouldn’t play a role in buying real estate. Going with your gut indicates that you realize that you’ve purchased a great piece of real estate and obtained good value for your dollar.

Base your opening bid on your ability to afford the home and the perceived value. Make sure to make your opening bid such that can not offend the seller. Many potential purchasers believe they should bid lower the very first time they go to bat. It really depends on how the market is during that time period.

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Questions about buying or investing in property often get asked during family gatherings.

Time for Chinese New Year Again.. “Have you buy your property?” Ermmmm

Woman with a surprised look

The Lunar New Year along with food and the red packets come inquisitive relatives, and is nearing. Between fielding questions about when you are going to marry / reproduce / find a proper job, you will also have to impress them somehow. Here are three things that you can declare to make yourself look like a property expert.

1) “Location is everything…but not for the reasons you believe.”

Everyone has heard the phrase “ countless times to location, location, location”. But reveal you know more compared to the average Joe by telling your relatives it’s not pretty much living in popular places like Holland Village, East Coast, Seaside Residences Siglap or Bukit Timah. For instance, dwelling close to the sea may offer fantastic views, but will even incur costs that are higher as such homes need protection against saltwater. It’s also not enough to live in prime districts; if a dwelling faces the main road, for instance, its occupants will have to put up with continuous noise, traffic and even pollution.

If some of your relatives are looking to purchase property, they’d do well to nail their intention in doing this. Are they looking to rent it, live in it, or both? Determining their use for the property can then help them to decide whether they would like to hold on to it for the long term, or sell it for profit within the following few years, and what sort of property they should buy.

2) “Don’t worry about banks; they have one important concern.”

Your relatives that are contemplating investing in property may worry about the factors influencing their opportunities getting their loan applications approved. A lot of individuals incorrectly believe their property buying history plays a part, particularly when they have purchased HDB flats with the aid of grants and subsidies. But in truth, banks are mostly concerned with whether or not their instalments can clear on time; their credit history, as such and monthly income are variables that are important.

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Prime Area Rental Down By 3.6% in Singapore

Rental prices of prime residential property in Singapore fell by 3.6 percent in Q1 2016 compared to the same period last year, according to Knight Frank’s Prime Global Rental Index.

The complete index, which monitors the change in high-end residential rents across 17 global cities, dropped for a third straight quarter, with rents falling on average by 0.5 percent in the year to March 2016.

In fact, 11 cities recorded level or dropping prime rents over the last 12 months.

Toronto leads the ranks with prime rents growing by 8.9 percent in the year to March 2016, followed by Guangzhou with 5.3 percent growth.

Nairobi occupies the bottom position after rents fell by 7.9 percent. This is preceded by Hong Kong, which saw a decrease of 5.2 percent.

Nicholas Holt, Head of Research for Asia Pacific at Knight Frank, said: “Real estate markets in Asia have been sensitive to the wider macro economic environment in 2016, as presented by the prime residential rental performance in the seven major Asian cities monitored.

“Singapore and Hong Kong, both cities with significant export exposure have found with Shanghai still seeing rental increase on the rear of a robust local market, while mainland Chinese cities have seen more varied performance, rents dampen.

“Looking ahead, the political uncertainty in Europe and the US will probably weigh on the area for the second half of the year, depressing rental growth prospects.”

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