Heartland Boy

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How I Easily Saved Over $14,000 By Refinancing My Home Loan

how-i-easily-save-14000-by-refinancing-my-home-loan

If you missed out on the recent stock rally and are suffering from FOMO hangover, an indirect way to still participate in it is to refinance or reprice your home loan. In March 2020, the US Federal Reserve reduced the benchmark interest rate to between 0% -0.25% to resurrect the flailing US economy. As a result, the borrowing costs for Singapore banks have fallen dramatically as well. Savers would have already experienced this effect since the interest rates for the various flagship savings products had all fallen in tandem. Hoping to exact some measure of revenge, Heartland Boy began to actively monitor the various mortgage packages and deals offered by the financial institutions (‘FI’) during the Circuit Breaker. This month, he finally made the decision to switch out of his HDB loan. Here is the account of how I easily saved over $14,000 in interest expense by refinancing my home loan, with the entire application process taking less than an hour!

Why I Took Up A HDB Loan Initially

When Heartland Boy first collected the keys to his BTO flat, he chose a HDB loan over a bank loan because:

  1. 3M SIBOR was at decade high of ~2% and on an upward trend 
interest-rate-historic-low

Diagram 1: 3M SIBOR peaked at 1Q2019 (Source: Bloomberg, RHB)

  1. HDB loan borrowers can always switch to a bank loan

Given that interest rates were on the ascendancy then as shown in Diagram 1, Heartland Boy preferred the certainty of paying a fixed 2.6% on his home mortgage. Because there is no lock-in period for a HDB loan, it means that he could still switch to a bank loan thereafter. Therefore, because he had first taken a HDB loan, he was perfectly positioned to take advantage of the current low-interest rate environment.

Fix The Parameters To Work With

To decide on the best home loan package to subscribe to, Heartland Boy discussed with Heartland Girl on the parameters to fix:

  • Waiver of penalty/commitment fee due to sale

Right from Day 1, the Heartland Couple’s intention is to sell their 3-bedroom BTO after it reaches its Minimum Occupation Period (‘MOP’). That strategy, undertaken in 2014 during their BTO application, has not waivered. It is also why they spent frugally on their home renovation process. Therefore, it is very important to them that any prepayment of the outstanding loan as a result of a sale of their apartment does not incur any penalty.

  • Maximise the loan tenure

As shown in Diagram 1, with interest rates at decades-low, Heartland Boy’s opinion is that it makes economic sense to use as little CPF Ordinary Account funds as possible to pay for their home mortgage. Any deposits in their OA that have not been used to pay the home loan will be earning 2.5% interest rate. Generally, a home loan is also considered a type of good debt (of course, if you can manage it). He would like to reiterate that this is just his perspective which suits his current household financial circumstances. There would be others who think otherwise and have their own preferred combination of low interest rates, CPF OA, cash balances and sanity.

  • Cash rebate to offset admin fees

When one refinances from one financial institution to another, expenses such as legal and valuation fees will be incurred. On average, this ranges between $1,800 to $2,500. He is looking to the mortgage refinance company to offer some form of incentives such as cash rebate to offset these charges.

Heartland Boy thinks that it is important to decide on the parameters as early as possible it allowed them to sieve through the numerous and ever-changing mortgage packages available in the market.

Bank Loan At 1.5% Fixed Interest Rate For 5 Years

After conducting his own due diligence and comparing the various mortgage packages, Heartland Boy finally settled on a 5-Year Fixed 1.5% package with DBS Bank. Actually, DBS offered various lock-in periods of 2,3 and 5-year at the same fixed rate of 1.5%. After the mortgage consultant took time to explain his queries, Heartland Boy eventually opted for the 5-year package. This is an extremely low rate to lock in for a prolonged period and let’s not forget that interest rates would go back up once the economy eventually recovers. Moreover, since Heartland Boy is planning to sell his house upon MOP, he does not want to deal with the additional factor of rising interest rates influencing his decision-making process.

It took him less than an hour to complete and submit the application forms and supporting documents. On the next day, he received good news that his refinancing application was approved! (thanks to the DBS home advice specialist who was super efficient)

Benefits Of Switching From HDB Loan To Bank Loan

  • Guaranteed Interest Savings of > $14,000 over the next 5 years

As Heartland Boy has explained earlier in his article, the eventual mortgage loan with DBS was based exactly on the parameters that he had discussed with his wife.

refinance-home-loan-savings-heartland-boy

Diagram 2: Interest Savings Between Doing Nothing and Taking Action

No doubt that the loan tenure and loan quantum have changed, rendering an apple-to-apple comparison impossible. However, bear in mind that the decision he faced was between A) Doing Nothing (stay with HDB) and B) Taking Action (switch to bank). To simplify matters even further, he only compares the interest savings between the period from Sep 2020 to Aug 2025. The start time coincides with the time he successfully ports over to the DBS Home Loan and the end time marks the end of the guaranteed 1.5% interest rate. He did not consider the savings in interest expense beyond this period because the interest rate cannot be ascertained now and it is likely that he would have sold his house already. Anyway, using a mortgage calculator online, he obtained the respective amortization schedules to confirm that the interest savings is approximately $14,500. Admin fees are assumed to be offset by DBS’s $2,000 cash rebate.

Such a comparison can be done online for free via PropertyGuru’s Smart Refi. Do give it a try and you will be amazed how much you can save from a refinancing simulation!

  • No commitment fee applicable for partial prepayment

In addition to the waiver of commitment fee/penalty arising from sale of the BTO, this is another flexibility that Heartland Boy really liked about the loan package that he took up. His broker explained that during the 5-year lock-in period, he can prepay the outstanding principal without incurring any commitment fee to the extent that there is still a “minimum” outstanding principal remaining with the bank. Heartland Boy further clarified that this “minimum” could even be as low as $1!

  • A further $50,000 in both Multiplier Accounts earn at least 2.4% interest rates

Heartland Boy and Heartland Girl both have DBS Multiplier Accounts. Heartland Boy had previously shared how crediting just one of their salaries has allowed both of their accounts to enjoy salary crediting. The good news is that home mortgage works the same way since both of them will be jointly servicing the monthly instalments.

home-mortgage-dbs-multiplier-interest-income

Diagram 3: Additional Interest Income From DBS Multiplier

Likewise, if we compare the action of doing nothing and taking action, the Heartland Household would gain additional interest income of $2,400 per annum. Taking up a home mortgage with DBS allows them to unlock a new category (besides credit card and insurance), and with it an additional $50,000 in their respective DBS Multiplier savings accounts easily enjoy at least 2.4% interest p.a. The additional deposits will be transferred from the Citi MaxiGain Savings Account to their DBS Multiplier Accounts. For simplicity, the $2,400 additional income presented in Diagram 3 does not include the opportunity cost of the interest income from the Citi MaxiGain Savings Account, which had recently yielded a miserly 0.72%.

Conclusion

Of course, no one could predict that interest rates would fall off the cliff as a result of the Coronavirus. But when such black swan events do occur, you should always think about how you could take advantage of it. Refinancing to a cheaper mortgage is one such action that home owners can definitely consider undertaking. The savings can be immense as Heartland Boy has shown. In addition, the improvement to your household’s cashflow is more than welcome during such difficult economic conditions.

If you are interested to refinance your home loan, you may want to try  PropertyGuru’s proprietary smart refinancing tool to help you simulate your cost savings. Thereafter, you can work with their best in-class mortgage consultants to obtain the best home mortgage available in the market!


113 Comments

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Comments

  1. Loo says

    June 14, 2020 at 6:45 pm

    Hi

    I am interested to finance my flat with the DBS loan.

    Can you furnish the details of your mortgage consultant? Thank you.

    Reply
    • Alison_Liew says

      June 14, 2020 at 6:48 pm

      Hi Loo,

      Most definitely. I will link you up in an email with the mortgage consultant.

      Reply
  2. Joe says

    June 14, 2020 at 7:39 pm

    Hi! Able to share your contact with the mortgage consultant as well ?

    Thank you 🙂

    Reply
    • Alison_Liew says

      June 14, 2020 at 7:54 pm

      Hi Joe,

      Absolutely! I have linked both of you together in an email. Best of luck!

      Reply
  3. Ylfoo says

    June 14, 2020 at 9:29 pm

    Thanks for sharing. Appreciate if we can know the Details of your mortgage consultant?

    Reply
    • Alison_Liew says

      June 15, 2020 at 12:06 am

      Hi Ylfoo,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  4. Andy says

    June 14, 2020 at 10:17 pm

    could you share your mortgage consultant to me as well?

    Reply
    • Alison_Liew says

      June 15, 2020 at 12:05 am

      Hi Andy,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  5. J says

    June 14, 2020 at 11:03 pm

    Hi, can you share the specialist with me too? Thanks

    Reply
    • Alison_Liew says

      June 15, 2020 at 12:05 am

      Hi,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  6. Stanley says

    June 14, 2020 at 11:37 pm

    Hi Alison, were there any issues in only being able to loan 75% of your hdb purchase price (for bank loan as per hdb limits) and having to cough up the remaining in cash/from your cpf? (cos from the numbers you mentioned above and assuming you took 90% loan from hdb initially, it seems like your outstanding principal currently is still more than 75% of your purchase price)

    also, if i understand your post correctly, there is no penalty in prepayment of your loan during the locked-in period of 5 years provided there is outstanding principal? does it mean you cannot sell your hdb without incurring the fee? or you can pay down your outstanding principal to $1 during the 5 years and just incur the penalty on that outstanding principal of $1 should you decide to sell during the 5 years when you hdb reach MOP?

    if there are some details you don’t want to share on this platform you can also send me an e-mail. thanks!

    Reply
    • Alison_Liew says

      June 15, 2020 at 8:30 am

      Hi Stanley,

      No issue for me as my principal was less than 75%. In addition, the LTV limit will be based on the new valuation of your flat, not your purchase price. If its a BTO, the latest valuation should be markedly higher the purchase price.

      Hi, i can sell my flat without incurring penalty. Without selling the house, I can also prepay my outstanding loan (until there is $1 left) and not pay a penalty. That is the flexibility that i have with this dbs loan

      Reply
  7. YK says

    June 15, 2020 at 12:06 am

    Hello! Can you share the contact details of your mortgage consultant with me.

    Thank you!

    Reply
    • Alison_Liew says

      June 15, 2020 at 8:14 am

      Hi YK,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  8. Nick says

    June 15, 2020 at 11:43 am

    Hi, need your help to share the contact of the mortgage consultant? Thanks thanks.

    Reply
    • Alison_Liew says

      June 15, 2020 at 12:30 pm

      Hi Nick,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  9. AL says

    June 15, 2020 at 12:35 pm

    Hihi. Can share the specialist with me too? Thank you!

    Reply
    • Alison_Liew says

      June 15, 2020 at 12:57 pm

      Hi AL,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  10. Inie says

    June 15, 2020 at 4:04 pm

    Are we allowed to take up Hdb loan again once we changed to bank loan?

    Reply
    • Alison_Liew says

      June 15, 2020 at 4:15 pm

      Hi,

      No we can’t. This move is irreversible for the same property.

      Reply
  11. Melissa says

    June 15, 2020 at 4:49 pm

    Hi! Could you share the contact of your mortage specialist please? Thanks!

    Reply
    • Alison_Liew says

      June 15, 2020 at 6:57 pm

      Hi Melissa,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  12. Bjorn says

    June 15, 2020 at 5:28 pm

    Dear Alison,
    Great article. For me, I only just got my keys in Feb 2020 and begun my HDB loan payment in Apr 2020. Would I be right to say that I might have to cough up some cash for now as I believe my principal is >75%?
    Also, just curious on the Multiplier unlocking the home loan instalment category, you earn additional interest because you unlock a new category (Income+3 I assume, to reach $100K SGD tier), but since your home loan instalment will be paid by CPF, would this loan amount be counted as an eligible transaction? Thanks a lot!

    Reply
    • Alison_Liew says

      June 15, 2020 at 7:04 pm

      Hi Bjorn,

      Firstly, congratulations on the collection of your keys. I know how that feels.

      For your case, you might not need to cough up additional cash because how much you can borrow depends on the valuation on your house. The market valuation of your BTO should be higher than your purchase price, so you might not need to top up cash to meet the shortfall.

      Yes, DBS Multiplier will record your total monthly loan payment (both cash+CPF)

      Thanks for your compliments.

      Reply
  13. Wil says

    June 15, 2020 at 5:38 pm

    I just changed my HDB loan to DBS loan 3 months ago. Quite strange DBS will have commitment fee if I do partial payment within lock-in period.

    Reply
    • Alison_Liew says

      June 15, 2020 at 7:06 pm

      Hi Wil,

      It is actually not uncommon for banks to levy commitment fees for partial prepayment. Again, the interest rate environment in 1Q is dramatically different from 2Q. So the packages from even the same bank could differ dramatically.

      Reply
  14. Yq says

    June 15, 2020 at 7:42 pm

    Hi, could you share the contact of your mortage specialist please? Thanks!

    Reply
    • Alison_Liew says

      June 15, 2020 at 8:25 pm

      Hi YQ,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  15. Daniel says

    June 15, 2020 at 8:42 pm

    hi Alison, could i get linked up too?

    thanks!

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:16 pm

      Hi Daniel,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  16. Imelda says

    June 15, 2020 at 9:03 pm

    Hi there!
    Could you link up please?

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:15 pm

      Hi Imelda,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  17. Alvin Lim says

    June 15, 2020 at 9:04 pm

    can you link me up too?

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:16 pm

      Hi Alvin,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  18. Vanessa says

    June 15, 2020 at 9:15 pm

    Hi Alison, can i get linked up too? Thank you(:

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:22 pm

      Hi Vanessa,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  19. Desmond says

    June 15, 2020 at 9:19 pm

    Hi, can I get linked up pls.

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:22 pm

      Hi Desmond,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  20. Lokey says

    June 15, 2020 at 9:19 pm

    Hi Alison,
    Like to understand more on the interest saving part calculation. From the diagram above you mention it as Sep 20- Aug 25, help me understand whether it should be based on offer date or loan disbursement date. If it a offer date your effective months would be calculated as 57 months instead of 60 months of savings

    Reply
    • Alison_Liew says

      June 15, 2020 at 9:23 pm

      Hi Lokey,

      I based my calculation on loan disbursement date. I am currently serving my 3 months notice period with HDB.

      Reply
  21. Desmond says

    June 15, 2020 at 9:21 pm

    Hi, can I get linked up pls. Thanks!

    Reply
  22. Suresh says

    June 16, 2020 at 1:15 am

    Hi! Could you link me up with your consultant please? Not sure if I might be eligible for this. Share the unit with my mum. She’s the 1st owner and I’m the 2nd. Left about 80K and the monthlies are by cpf.

    Reply
    • Alison_Liew says

      June 16, 2020 at 7:23 am

      Hi Suresh,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  23. Chris says

    June 16, 2020 at 1:15 am

    Hi Alison, thanks for the article. Please link me up with your mortgage specialist.

    Reply
    • Alison_Liew says

      June 16, 2020 at 7:23 am

      Hi Chris,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  24. Jerry says

    June 16, 2020 at 9:51 am

    Hi, like your post. Please link me uo with ur broker.

    Reply
    • Alison_Liew says

      June 16, 2020 at 1:46 pm

      Hi Jerry,

      Thanks for your kind words. I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  25. Weiheng says

    June 16, 2020 at 12:32 pm

    Hi, could you link me up with your mortgage consultant? Thanks.

    Reply
    • Alison_Liew says

      June 16, 2020 at 1:46 pm

      Hi Weiheng,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  26. Raymond says

    June 16, 2020 at 12:36 pm

    Hi Alison, thanks for the article. Please link me up with your mortgage specialist.

    Regards,
    Raymond

    Reply
    • Alison_Liew says

      June 16, 2020 at 1:46 pm

      Hi Raymond,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  27. Charmaine says

    June 16, 2020 at 2:26 pm

    Hi! Could you please link me up please? Appreciate it! Great article 🙂

    Reply
    • Alison_Liew says

      June 16, 2020 at 6:57 pm

      Hi Charmaine,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  28. James says

    June 16, 2020 at 8:31 pm

    Hi Alison

    Great article, thanks for the read.

    Can you share with me your mortgage specialist contact as well? Thanks much.

    Reply
    • Alison_Liew says

      June 16, 2020 at 9:39 pm

      Hi James,

      Thanks for your compliments.

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  29. Tim says

    June 16, 2020 at 9:43 pm

    Could I have DBS home loan consultant’s contact please 🙂 thank you!

    Reply
    • Alison_Liew says

      June 16, 2020 at 9:54 pm

      Hi Tim,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  30. Hady says

    June 17, 2020 at 2:33 am

    Hi,

    Mind to link up with your agent?
    By the way, how do you calculate the interest saved from lower interest in the first 5 year?

    Reply
    • Alison_Liew says

      June 17, 2020 at 7:35 am

      Hi Hady,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Separately, I have sent you a home amortization schedule that I downloaded online

      Reply
  31. Hady says

    June 17, 2020 at 1:29 pm

    Thanks much. Appreciate it

    Reply
  32. Alex says

    June 17, 2020 at 2:23 pm

    Hi Alison,

    Thanks for the recommendation.

    Don’t mind share with me your mortgage consultant’s contact as well? Much appreciated.

    Reply
    • Alison_Liew says

      June 17, 2020 at 7:19 pm

      Hi Alex,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  33. Simon says

    June 17, 2020 at 3:24 pm

    Hi Could you link us up with your mortgage consultant?

    Reply
    • Alison_Liew says

      June 17, 2020 at 7:19 pm

      Hi Simon,

      I have linked both of you up in an email. Let me know if you did not receive. Best of luck!

      Reply
  34. Xavier says

    June 18, 2020 at 8:17 pm

    Hi Alison,

    I have taken up a HDB loan and have yet to collect my keys. I will be collecting my keys in late 2021, do you think I should switch to a DBS 5 years bank loan like what you did? Or am I even allowed to do so? Thanks for your reply.

    Regards,
    Xavier

    Reply
    • Alison_Liew says

      June 18, 2020 at 8:36 pm

      Hi Xavier,

      I think its still possible to choose bank loan when you collect your keys. However, do note the higher downpayment and cash outlay for bank loan over hdb loan. Besides, you cannot commit to the bank loan rates today when u r only collecting your keys end 2021.

      Reply
  35. alvin says

    June 18, 2020 at 10:15 pm

    hi, can help link the mortgage consultant? also can i check roughly how much is the legal and other fees payable when switching from hdb to bank loan pls. thanks 🙂

    Reply
    • Alison_Liew says

      June 18, 2020 at 10:35 pm

      Hi Alvin,

      I have linked both of you up in an email. Let me know if you did not receive.

      There’s legal + valuation fee payable. The quote i received for them came in at slightly below $2,000. Therefore, the cash rebate from DBS will help me ensure no cash outlay when i switch from hdb to bank loan.

      Best of luck!

      Reply
  36. Joyce says

    June 19, 2020 at 1:21 pm

    Hi Alison, great article! Can you link me up with your DBS mortgage consultant? Thanks!

    Reply
    • Alison_Liew says

      June 19, 2020 at 8:03 pm

      Hi Joy,

      Thanks for your kind words. I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  37. Zac says

    June 20, 2020 at 4:28 pm

    Hi Alison,

    Nice article, appreciate if you can share contact details of your mortgage consultant. Thanks

    Reply
    • Alison_Liew says

      June 20, 2020 at 5:35 pm

      Hi Zac,

      Thanks for your kind words. I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  38. Damien says

    June 24, 2020 at 9:01 pm

    Hi Alison, thank you for this wonderful article!
    Could you share the contact of your mortgage specialist with me please?
    Thinking of refinancing after reading.
    Thanks!

    Reply
    • Alison_Liew says

      June 24, 2020 at 9:11 pm

      Hi Damien,

      Thanks for your kind words. I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  39. Cindy says

    June 26, 2020 at 3:24 am

    Hi! May I have your mortgage consultant’s contact? Would like to find out more information from him. Thank you!

    Reply
    • Alison_Liew says

      June 26, 2020 at 7:17 am

      Hi Cindy,

      I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  40. Micheal says

    June 29, 2020 at 1:44 pm

    Hi,

    Could you also link me up with the DBS mortgage consultant pls? Thanks!

    Reply
    • Alison_Liew says

      June 29, 2020 at 2:28 pm

      Hi Micheal,

      Sure, I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  41. Ed says

    July 1, 2020 at 5:53 pm

    Hi Alison,

    Could you link me up with your DBS mortgage consultant?
    Thank you.

    Reply
    • Alison_Liew says

      July 1, 2020 at 6:42 pm

      Hi Eddie,

      Sure, I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  42. Julian says

    July 2, 2020 at 10:42 am

    Hi

    I am interested to refinance my HDB loan. Can you link me up with your mortgage consultant please? Thank you.

    Reply
    • Alison_Liew says

      July 2, 2020 at 10:54 am

      Hi Julian,

      Sure, I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  43. Matt says

    July 6, 2020 at 10:36 am

    Kindly share your consultant contact please 🙂

    Reply
    • Alison_Liew says

      July 6, 2020 at 11:17 am

      Hi Matt,

      Sure, I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  44. Daniel says

    July 7, 2020 at 7:06 pm

    HI, i have been following your blog for some time. Can i have the contact of your mortgage consultant please. Thanks!

    Reply
    • Alison_Liew says

      July 7, 2020 at 7:44 pm

      Hi Daniel,

      Thanks for your support. I have linked both of you up in an email. Let me know if you did not receive.

      Reply
  45. Tony says

    July 18, 2020 at 11:55 am

    Hi Alison, can share contact details of your mortgage specialist.
    thank you

    Reply
    • Alison_Liew says

      July 18, 2020 at 6:17 pm

      Hi Tony,

      Sure, I have connected both of you via email, let me know if you did not receive it.

      Reply
  46. Gerald says

    July 29, 2020 at 4:54 pm

    Hi Alison,
    I love your blog. May I have the contact of your mortgage consultant?

    Reply
    • Alison_Liew says

      July 29, 2020 at 7:46 pm

      Hi Gerald,

      Thanks for your kind words. I have linked both of you up in an email! Let me know if you did not receive it!

      Reply
  47. Chris Lim says

    August 1, 2020 at 2:15 pm

    Hi, i am interested to refinance my HDB loan, can share the contacts of the mortgage consultant?

    Regarding the partial repayment, can you revise your monthly installment amount after making your partial capital repayment while maintaining repayment period, as opposed to shortening the the repayment period?

    Thank you!

    Reply
    • Alison_Liew says

      August 1, 2020 at 2:28 pm

      Hi Chris,

      I have linked you up with the mortgage consultant. For your question, it is best addressed by him! All the best and good luck!

      Reply
  48. Raymond says

    August 13, 2020 at 12:05 pm

    Hi Alison,
    I love your blog. May I have the contact of your mortgage consultant?

    Reply
    • Alison_Liew says

      August 13, 2020 at 3:07 pm

      Hi Raymond,

      Thanks, I have linked you up to my mortgage consultant. Let me know if you did not receive the email. Good luck

      Reply
  49. Robin says

    August 30, 2020 at 1:42 pm

    Hi Alison,

    Thanks for your article and insightful sharing, possible to share with me the mortgage consultant contact (hope I’m not too late to the game)?

    Reply
    • Alison_Liew says

      August 30, 2020 at 3:31 pm

      Hi,

      You are not too late! Rates could even be lower than when I performed mine back in May. I have linked you up in an email, let me know if you did not receive it!

      Reply
  50. TC says

    September 29, 2020 at 1:40 pm

    Hello Alison,

    Mind sharing your mortgage consultant contact with me, please?

    Thank you!

    Reply
    • Alison_Liew says

      September 29, 2020 at 7:55 pm

      Hi TC,

      I have pm-ed you and linked both of you together in an email.

      Reply
  51. A says

    October 16, 2020 at 12:01 pm

    Hihi, could you share your mortgage consultant please? Thanks

    Reply
    • Alison_Liew says

      October 17, 2020 at 7:08 am

      Hi A,

      I have linked both of you together in an email. Good luck on your refinancing journey.

      Reply
  52. Berd says

    October 20, 2020 at 3:34 pm

    Hello!

    Do you mind to link up with your agent?
    how do you calculate the interest saved from lower interest in the first 5 year?

    Reply
    • Alison_Liew says

      October 20, 2020 at 7:54 pm

      Hi Berd,

      I have linked you up with my mortgage consultant in an email. He will also assist you in calculating your interest savings. Let me know if you did not receive my email. Good luck!

      Reply
  53. Ed says

    November 7, 2020 at 8:47 pm

    Hello,

    Thanks for the article, do you mind sharing share your mortgage consultant please? Thanks

    Reply
    • Alison_Liew says

      November 7, 2020 at 8:58 pm

      Hi Ed,

      Thank you. I have linked you up with my mortgage consultant, let me know if you did not receive it. Good luck!

      Reply
  54. Shoba Krishnan says

    November 16, 2020 at 2:46 pm

    Hi
    Been reading your blog with interest. Would you mind setting me up with your mortgage consultant? Thanks!
    Shoba

    Reply
    • Alison_Liew says

      November 16, 2020 at 5:55 pm

      Hi Shoba,

      Thank you for your loyal support. I have linked you up with my mortgage consultant! Let me know if you did not receive my email!

      Reply
  55. Sher says

    November 29, 2020 at 8:13 pm

    Hi, could you please link me up with the mortgage consultant? Thank you in advance

    Reply
    • Alison_Liew says

      November 29, 2020 at 9:26 pm

      Hi Shermaine,

      I have linked both of you up in an email. Let me know if you did not receive it, good luck!

      Reply
  56. Derek says

    November 29, 2020 at 8:26 pm

    Hi Alison,

    Did you have to source a legal firm on your own? The legal+valuation quote you received seem pretty attractive. Do you mind sharing the contact of the legal firm? Thanks.

    Reply
    • Alison_Liew says

      November 29, 2020 at 9:29 pm

      Hi Derek,

      I have PM-ed you via email. Keep a look out

      Reply
  57. Melvin says

    December 11, 2020 at 9:57 am

    Hi, could you please link me up with the mortgage consultant?

    Thank you 😀

    Reply
    • Alison_Liew says

      December 11, 2020 at 11:02 am

      Hi Melvin,

      Most definitely, I have linked both of you up in an email. Let me know if you did not receive it. Good luck!

      Reply

Trackbacks

  1. How To Decide Between Floating Or Fixed Interest Rate For Your Home Loan | TheFinance.sg says:
    January 17, 2021 at 2:57 pm

    […] I fully utilized the opportunity offered by a HDB loan to refinance into a bank loan. Given the $14,000 that I was guaranteed to save by switching to a bank loan, it was an easy decision to make. While making the switch, I had to tackle the classical dilemma of […]

    Reply

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