Originally Posted by
MortgageGuru
For BUC only
OCBC Step down mortgage board rate*
Year 1: 0.7% (MBR - 3.80%)
Year 2: 0.65% flat (MBR - 3.85%)
Year 3: 0.6% flat (MBR - 3.90%)
Year 4: 0.55% flat (MBR - 3.95%)
Thereafter: 1.55% flat (MBR -2.95%)
🔹Free conversion should rate increase before TOP, or within 6m from TOP
🔹Waiver of mortgagee insurance policy
🔹4 years lock in period.
🔸Interest rates *drop down* for year 1-4 as disbursement gets larger thus less interest chargeable on larger $
*terms and conditions apply. All rates subjected to change without notice.
All loan to be accepted by 17 March 2017
Not really wise to be tempted into the thereafter low rate as once board rates goes up, you're stuck to it since the lock in is for 4 years. Not forgetting interest rate are considered low now and facing a ever-increasing environment.