Chris Chong (HoneyMoneySG) Saved S$6,000 Refinancing His HDB Loan: Here's How
Financial blogger Chris Chong (HoneyMoneySG) successfully reduced his mortgage interest rate from 2.6% (HDB loan) to a 1.8% fixed bank loan, leading to a net savings of approximately S$6,000 over three years. If you are an HDB homeowner, you could be overpaying: check the best available rates on Cashew or contact a Cashew advisor today to see how much you could potentially save.
Sarah Chen
20 Years of Data Prove It: Bank Loans Beat HDB Loans
Over the last two decades, HDB’s 2.6% home loan rate has stayed rock solid — while SORA-based bank loans have floated up and down with the market. But when you crunch 20 years of data, a clear pattern emerges: despite a few short spikes, bank loans have been cheaper almost 80% of the time. A borrower with a $500,000 loan over 20 years would have saved roughly $70,000 by going with a typical SORA + 0.5% bank package instead of sticking with HDB’s fixed rate. The takeaway? Start safe with an HDB loan when buying your BTO, but once you’ve collected your keys, refinance to a bank loan — and let the data work in your favour.
Sarah Chen
Falling Home Loan Rates Could Save Singaporeans Thousands — If They Take Action
Home loan rates in Singapore have fallen to nearly half of last year’s levels, yet many homeowners remain stuck on costly packages. Experts warn that failing to refinance could mean losing out on savings of up to $12,000 a year.
Michael Tan
Refinancing vs. Repricing: How to Save on Your Mortgage
When your home loan’s interest rate is no longer competitive, you have two main options – refinance with a different bank, or reprice with your existing bank. What’s the difference, and which will save you more? In this article, we break down refinancing vs. repricing, comparing the pros, cons, and cost savings of each. By understanding these two routes, you can choose the best strategy to reduce your mortgage interest and keep more money in your pocket.
Michael Tan
Step-by-Step Guide to Refinancing Your Home Loan
Refinancing your mortgage might sound complicated, but it’s simpler than you think – especially with the right guidance. In this step-by-step guide, we’ll walk you through the entire refinancing process in Singapore. From reviewing your current loan and comparing offers, to applying and completing the legal work, you’ll see that refinancing is a straightforward way to save money. Follow these steps to confidently navigate your home loan refinance and snag a better deal.
Michael Tan
Refinancing Your Home Loan: When Does It Make Sense?
Interest rates and personal finances change over time – so the home loan you started with might not remain the best deal. In this article, we’ll explore when and why refinancing your home loan makes sense in Singapore. Learn the key scenarios where you should consider refinancing, such as when interest rates drop or when your lock-in ends, and how to evaluate the potential savings. Armed with this knowledge, you can save money and pay off your home loan sooner.
Michael Tan