Usual considerations in approving mortgages – Singapore property for sale/ rent

Usual considerations in approving mortgages – Singapore property for sale/ rent

Singapore property for sale/ rent – The usual considerations in approving bank loans are as follows:

  • Income
  • CPF contribution
  • Amount in CPF Ordinary account
  • Other financial commitments e.g. other housing loans or car loans
  • Credit rating (check with Credit BureauSingapore) e.g. bad history of payments in servicing loans or credit cards.
  • Debt servicing ability e.g. debt-to-loan ratio not exceeding 40%
  • Bankruptcy search
  • Age of borrower
  • Nationality of borrower

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