Copyright © Some People Say
Design by Dzignine
Tuesday, May 01, 2012

Home Loan, The Types; Something you should know about as a pre-adult


Home loan, home loan, home loan----

I never thought of how important home loan is until one day my dad talked to me about this. Sometimes, we are just not aware of all these until we have grown up to a certain age—pre adult age, 20+? Before that, I am a total ignorant towards this matter.

Okay, now the first idea is to make yourself clear that home loan is very important to own a house; if you are an ordinary person like you and I. Not many people will buy a house immediately with cash as you will be taxed by income tax like a blood sucker! So, how many types of home loan that you are aware of? Here— I’ve summarise them according to your needs! =)

  1. If you plan to get a new house, look for Home Purchase Loan.
  2. If you plan to renovate or repair a house that you already owned, look for Home Improvement Loan.
  3. Look, here’s the tricky one. If you plan to add an extra room as in expands your house, you need to get the Home Extension Loan.
  4. Let’s say you already have a home loan to finance your current home, but now you want to move to another home (you won a lottery maybe, you want a better house?), you need to look for Home Conversion Loan. This loan allows you to transfer the existing loan to the new home which most probably requires extra funds. So, what is good about this loan? It enables the new loan pays the previous loan and fulfills the money required for new home. Cool, isn’t it?
  5. Well maybe you are a retired person now, you want to get a new home but you want to sell off the first house that you bought. How? Get the Bridge Loan. This type of loan helps to finance your new home when you want to sell off the existing home. This is a recommended loan because this is normally a short term loan that helps you during the interim period when you want to sell the old home and buy a new one at the same time.
  6. Who knows, if you are a contractor or a businessman, you want to construct a new home, you can consider Home Construction Loan.
  7. Lastly, it is very common for successful business people to buy land and build buildings for their company or investment purposes. In this case, you need to look for Land Purchase Loan.

If you are living in Singapore, I recommend you look for this housing loan company – Housing Loan Singapore

Why? This is because… They can provide you these 4 goodies as a buyer:
  • Save your hassle of going about getting your Singapore housing loan
  • No pressure hard selling of home loans
  • Experience with housing loans in Singapore
  • FREE service 


Post a Comment