Thanks chrisop. It is at level B1. How about your one?
Yes understand that the interest rates will be higher for commercial bank loans and getting loan itself is also more difficult.
Most of ppl here use UOB's package?
Maybank's package seems not good for this UOC, as its interest starts date is 3 month after letter of offer, is it true? OCBC is similar except the number of months is 6.
What's your package, mind to show me via PM?
Quote:
Originally Posted by chrisop
Hi Avant, Congrats on your purchase! :) Which level did you get?
We used a 3-year interest lock-in loan package. For commercial bank loans, the interest rates are definitely much higher than home loans.
Surprised that you took OCBC loan
Please let me have more details. To me, its Interest Commencement Date and Cancellation are not favorable over others.
Besides rates (I prefer fixed/float compared to sibor-pegged), below are the items most important (to me at least):
LTV (matters as I plan to buy condo 3 years or later)
Interest Commencement Date (determine the effective rate)
One Free Conversion (better than none)
Cancellation Fee (need to pay if not disbursed fully, even after lock in)
Legal Fee Subsidy (Clawback period)
Lock Years (think it is the min period we should stay in)
Quote:
Originally Posted by chrisop
Mine is on B1 too. :cheers4:
I'm using ocbc. Not sure of other bank loan packages cos didn't do any comparison. :o Can probably share some details with you via pm.
As DBS only approved me 70% loan while i want to set aside some money for
next downpayment of the first condo that I plan (to stay in private is not easy nowadays for new comers)
Quote:
Originally Posted by chrisop
Oh I see... Hehe just hope to faster repay the loan so it wouldn't matter that much.
Why did you choose UOB instead of DBS even though the interest rates at DBS are lower?