21 Feb '14, 12am

Why homeowners looking to refinance their mortgage loan can breathe a sigh of relief

We will assume that the young couple seeking to refinance their home has a monthly household income of $10,000. We will further assume that their total monthly household debt is $3,000 and their monthly mortgage loan repayment will be assessed at a higher $3,500 (3.5% as per the TDSR guidelines instead of the lower prevailing interest rate). If TDSR applies, the young couple will not qualify for a refinancing loan as their total debt and mortgage payment of $6,500 ($3,000 + $3,500) will exceed the 60% threshold. With the new changes, they will still qualify for a refinancing loan provided they bought their property before 29 June 2013 and the residential property is occupied by them. The exemption allows the young couple to refinance their home if they are able to find more a more competitive loan package. Since TDSR will not apply to them, it will also mean that they will...

Full article: http://www.stproperty.sg/articles-property/spw-insights/r...

Tweets

Mortgage Rule Changes And Refinancing

thefinance.sg 23 Feb '14, 9am

6 Oct 2012 The maximum tenure of all residential property loans for individual and non-individual borrowers will be capped...

Now, Google Will Predict Your Voice Queries by Looking at Your Eyes

Now, Google Will Predict Your Voice Queries by ...

searchenginepeople.com 20 Feb '14, 6pm

Eye tracking by SMI Eye Tracking Sound interesting isn't it? One of the recent patents filed by Google hints at the search...

For Overstock CEO, Bitcoin Isn't Just A Publici...

forbes.com 21 Feb '14, 3pm

To get to Patrick Byrne’s house in Utah, one will drive by snow-covered trailers and the rusted-out trucks from which they...

Poulter looking for Match Play spark

Poulter looking for Match Play spark

europeantour.com 18 Feb '14, 11pm

Related Content News McIlroy aiming to attack in Arizona Stenson refreshed for Match Play tilt Kiradech keen for Match Pla...

Rules tweaked to help home owners refinance mor...

stproperty.sg 12 Feb '14, 5am

THE central bank has made it easier for home owners to refinance their existing mortgages. It yesterday widened an exempti...