Want To Get The Best Home Equity Loan?
Take 1 minute to fill in the form and find out how much you can borrow against your property, all for free.
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Join over 3524 Singaporeans in getting the best Home Equity Loan
Answers 3 Short
Questions to Unlock Your Cash
The 6 Steps to Getting the Best Home Equity Loan
Take less than 1 minute of your time to answer the 3 simple questions on the form to start unlocking your cash today.
Within 1 working day, you receive a 100% free consultation during which your trusted advisor determines cash out eligibility.
Pick your preferred option between a set of shortlisted packages, tailored to your specific requirements and wishes.
We apply for your desired home equity loan to our established connection at loan provider.
After approval of the bank, you only need to officially accept your home equity loan.
In about 8-10 weeks, which is considered fast, your cash is unlocked and available for use.
Answers 3 Short Questions to Unlock Your Cash
The 6 Steps to Getting the Best Home Equity Loan
- Fill in the 3 questions on the form to start the process of unlocking your cash today.
- Within 1 working day you get a 100% free consultation during which your trusted advisor will determine cash out eligibility.
- Choose the best package from the shortlisted packages, specially tailored to your specific situation.
- We apply for the desired home equity loan to our established connection at the respective loan provider.
- After approval of the bank, you only need to officially accept your home equity loan.
- Wait for the cash out of your home equity loan in about 8-10 weeks, which is considered fast.
Answers 3 Short Questions to Unlock Your Cash
Experience the Benefits of Working with Us
Lowest Rate Guarantee
Profit from our strong working relationships with all lenders, allowing you to guaranteed get the best loan rate.
Best Approval Probability
Benefit from your trusted advisors' in-depth market knowledge and strong network, assuring you have the highest chance for approval.
Personal Guidance
Get the most from being guided by a true expert to easily go through the process, while making the right financial decisions.
We have helped to obtain a total of SGD 5 billion in loans, with over 6000 Clients served
Service is excellent, staff were helpful and able to provide information in the shortest time.
MW Acct2024-05-31Very efficient and well-versed team with the right network!
Christina Lim2024-05-13responsive
Furn Li Lee2024-05-11Lorraine at Home Loan Whiz has been extremely helpful. We have used her for getting a mortgage and also for refinancing our mortgage. She was great at giving rate comparisons and putting us in touch with the banks. She is very responsive, well informed and a pleasure to work with!
Madhav2024-05-08Lorraine is really attentive, responsive and helpful. She answers all my questions to the point.
Yu Li2024-05-03Lorraine was extremely helpful and accommodating. She went above and beyond to understand our needs and find a solution.
maggie tan2024-05-02Wayne from Home Loan Whiz is very professional, efficient and quick to reply my queries. He took the effort to compile most banks rates and present in spreadsheet for my comparison. He also explained patiently and gave me recommendation. I will definitely refer him to anyone who require home loan service.
Terence Chan2024-04-09
Answers 3 Short Questions to Unlock Your Cash
3 Reasons to Choose For a Home Equity Loan
Lower Interest Rates
Interest expenses on home equity loans are usually lower compared to other loans, resulting in significant cost savings. We assure to offer you the best rate to maximize your value.
Flexibility In Usage
Home equity loans can be used for a wide range of options, like long-term investments, home renovations, financial emergencies, and more. We assist you in making the right choice with your unlocked cash.
Disbursement Options
With a home equity loan, you can choose to either request for the whole lump sum at once, or request to take the funds periodically in times of unplanned emergencies. We help you getting a buffer for unforeseen situations.
3 Key Reasons to Choose For a Home Equity Loan
Interest expenses on home equity loans are usually lower compared to other loans, resulting in significant cost savings. We assure to offer you the best rate to maximize your value.
Home equity loans can be used for a wide range of options, like long-term investments, home renovations, financial emergencies, and more. We assist you in making the right choice with your unlocked cash.
With a home equity loan, you can choose to either request for the whole lump sum at once, or request to take the funds periodically in times of unplanned emergencies. We help you getting a buffer for unforeseen situations.
Avoid Common Beginner's Mistakes
- Don't overextend your debt by making sure you can afford your loans' expenses and keep your debt-to-income ratio under control. Always plan this with a professional.
- Don't be ignorant towards respective fees and expenses to avoid unexpected financial burdens. Always assure to fully inform yourself on what you can expect.
- Don't neglect to shop around for the most favorable terms, best type of credit and the best partner. Always look for the cheapest (or best) option with different partners.
- Don't take up home equity for the wrong purpose by financing unnecessary expenses. Always ensure a clear and beneficial purpose for the loan by getting unbiased professional advice.
- Don't rely solely on home value as this can be risky, especially in situations where home values are stagnating or depreciating. Always consider market expectations for the area you reside.
- Don't allow interest to compound by being unaware of your outstanding loans and related costs. Always leverage loans to your advantage and have a detailed forecast.
Answers 3 Short Questions to Unlock Your Cash
Have Rates Compared Between All
Leading Banks of Singapore
Know your current home loan
It’s good that you’re considering refinancing your home loan. To make the process easier, you should have the information about your current home loan ready. This includes the outstanding loan balance, lock-in expiring dates, monthly instalments, loan tenure, interest rates, lock-in expiry date and any dawback penalties
You’ll then need to compare all the available refinancing mortgage loan interest rates that the banks are currently offering: Compare them against one another, and against your current home loan to make sure you’re getting the best deal. If that’s too tedious, simply answer a few questions and we will offer you the best refinancing home loan plan for you.
It’s good that you’re considering refinancing your home loan. To make the process easier, you should have the information about your current home loan ready, This includes the outstanding loan balance, lock-in expiring dates, monthly instalments. loan tenure, interest rates, lock-in expiry date and any clawback penalties
You should look out for banks which offer subsidies for your mortgage refinancing legal and valuation fees- especially when there’s a significant amount of money involved Otherwise, the S$2,000 to S$3,000 incurred in lawyer fees may negate any savings you enjoy from a lower interest rate. Our mortgage specialists will be able to find you refinancing home loan packages with legal subsidies.
Which lawyer should I engage to help me with my mortgage refinancing? You can’t just approach any lawyer. Let’s say you are refinancing to a DBS home loan. your lawyer of choice has to be on the bank’s list of preferred mortgage lawyers (aka on the legal panel). If you don’t have a lawyer, fret not, our mortgage advisors work very closely with lawyers who are on the bank’s panel and offer very competitive rates. We will be able to help you facilitate the whole process.
Finally, with the help of your lawyer (and legal subsidies), apply for your new home loan. Make sure you start your application at least 3 months before your current home loan lock-in period ends. You need to factor in enough time for the application process, and the 2-3- month notice you need to give your current bank. It’s even better if you can start earlier to address issues that may arise in the process of refinancing.
Why Choose Us ?
- Enjoy a lifetime service, as we remind you before the end of your lock-in period to ensure that you always have access to the best rates for your mortgage.
- Get advice from a team that is composed of experienced ex- bankers, with over 10 years of knowledge and experience in the industry. This allows us not only to get things done efficiently but also to provide you with high-level advice at no cost.
- We have a proven track record, having been in business for over 10 years, and one of the longest-standing companies in Singapore. Unlike many of our competitors, we have staying power and will be here to support you even after your lock-in period ends.
- We only work with the top-performing mortgage bankers who meet our strict selection criteria, ensuring that they are reliable. knowledgeable, and professional in order to provide you with the best experience.
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Get guaranteed low rates! Due to our high volume of transactions and strong bank connections, we secure the best rates available.
Answers 3 Short Questions To
Get The Best Home Equity Loan
FAQ
A home equity loan is a type of loan in which the borrower uses the equity of their home as collateral. It’s a fixed amount of money, often borrowed against the difference between the home’s current market value and the homeowner’s mortgage balance due.
In Singapore, a home equity loan allows homeowners to borrow a lump sum against their property’s value. The loan amount typically cannot exceed 75% of the property’s appraised value minus any outstanding mortgage, in accordance with the Monetary Authority of Singapore’s regulations.
Benefits include access to a large sum of money, potentially lower interest rates compared to other types of loans, and the possibility of tax-deductible interest if the loan is used for home improvement.
Yes, you can use a home equity loan for various purposes, including debt consolidation, education expenses, investment opportunities, or any other significant expenses.
The primary risk is that if you’re unable to repay the loan, you could face foreclosure on your home. Additionally, if property values decline, you could end up owing more than your home is worth.
The amount you can borrow usually depends on your lender’s policies, your creditworthiness, and the amount of equity in your home. Lenders typically allow you to borrow up to 75-80% of your home’s appraised value, minus any existing mortgage balance.
A home equity loan gives you a lump sum at a fixed interest rate with regular repayment terms, while a HELOC works like a credit card with a limit based on your home equity, offering a revolving line of credit at a variable rate.
Yes, there can be several fees, including application fees, appraisal fees, and closing costs. Some lenders may also charge a prepayment penalty for paying off the loan early.
Repayment terms for a home equity loan can range from 5 to 30 years, but the most common terms are 10 to 15 years.
To qualify for a home equity loan, you need to have a certain amount of equity in your home, a reliable source of income, a good credit history, and a debt-to-income ratio that falls within the lender’s guidelines.