Will Bank Accept A Refinance Loan If It Is Too Low ?

[kalimantan 6]

Say over the years, i paid the principal amount by thousands and it left about 100k owing.

Will i be able to get refinance from other banks if the amount is too low ?

[bepgof 20]

Say over the years, i paid the principal amount by thousands and it left about 100k owing.

Will i be able to get refinance from other banks if the amount is too low ?

A property mortgage loan amount of <SGD80K, banks usually don't "entertain", but....

- If one has long standing and sound credit record with the borrowing bank & good "relationship" with the bank representative (or so called private banker), thing goes smooth.

- If for "enquiry request" only and first timer with the bank, they'll tell immediately NO, NO, NO. Reason: little "juice" but high risk. The checking of one's financial earning power/liabilities/age/assets take time and "$" for the bank concerned.

- Say,100K, 10yr tenure with 1% interest difference between 2 banks: ONLY abt $44/per month different!

Paiseh, should leave "some room" for others to express views. My relationship with this forum will be ended soon, please don't miss me.

Edited July 14, 2011 by bepgof

[kalimantan 6]

huh ? why you leave forum ?

u are a active and serious contributor. It is good to have your insights.

[random_username 0]

My relationship with this forum will be ended soon, please don't miss me.

why?

[bepgof 20]

huh ? why you leave forum ?

u are a active and serious contributor. It is good to have your insights.

Many thanks for the words of encouragement.

I'm no longer a 3-yr old child, or one just passing out from school. I've established some "principles" over the years. Now "it" violated one of the pricinples which I've developed over the yrs - pride and integrity. Or can call this as "face" as well. So this is a "face" issue.

Like climbing up a ladder/hill, always up, no down. Or like a work relationship in a company, once "promoted" cannot be "demoted". Once demoted meaning - OUT!.

Got it?

I was once "promoted" to moderator, but, abt 2 wk back, account flagged down by Admin because of "massive removal" of files. This is a typical case of "good intention leads to no good result". You never noticed those 2005, 2006 threads gone liao meh?

[kalimantan 6]

huh ? just because you remove old threads - to keep forum lean, means the admin ask you out ?

you want to setup a forum with me ? i always want to setup a forum (of other topics), but i've no experiences. (but i want to focus on certain topics in singapore)

[friends78 0]

Bepgof, I will miss u. Thanks for all your advices. U have helped me a lot in term of analysing the loan issues when I was torn between HDB and Bank loan for my resale last yr. Also, I enjoyed reading your little comments be it on Fengshui, loan and some common sense answers which others might not 'dare' to comment it directly. And some of your answers are so funny that I burst out laughing while reading it after a hard day at work. Another form of stress relief! In short, I'm your silent reader cum supporter. Just want to let u know that u do make a difference to the readers. Thks.

Edited July 15, 2011 by friends78

[bepgof 20]

huh ? just because you remove old threads - to keep forum lean, means the admin ask you out ?

you want to setup a forum with me ? i always want to setup a forum (of other topics), but i've no experiences. (but i want to focus on certain topics in singapore)

A cause will bring abt some effects, this is life. Today, 15th July 2011, my last day here, but not "doom" day.

I also no experience setting up forum le, can make $$ or not? I already have too many hobbies which "waste" money & time as my wife claimed. So, have been trying zooming in those areas which generate revenue (money face).

A search of KDK ceiling fan in 2009 has bought me to this forum. You still hold my personal email right? bepgof@starhub.net.sg this email account has been with me since 2006.

[bepgof 20]

Bepgof, I will miss u. Thanks for all your advices. U have helped me a lot in term of analysing the loan issues when I was torn between HDB and Bank loan for my resale last yr. Also, I enjoyed reading your little comments be it on Fengshui, loan and some common sense answers which others might not 'dare' to comment it directly. And some of your answers are so funny that I burst out laughing while reading it after a hard day at work. Another form of stress relief! In short, I'm your silent reader cum supporter. Just want to let u know that u does make a difference to the readers. Thks.

Feel like crying.

Personally, have taken 1 hdb loan and 3 bankloans. Now still servicing 2 bankloans. 1st sept 2011 will "finish" 1 loan and remain 1 loan. So, agar agar know how this credit facility works, still learning.

Actually, have a few insurance/endo related "loans", need to pay $$$ every month and some yearly. Frankly speaking, I've lost count as to what is what & which is which and how much. Don't know anyone of you got this "encounter" or I'm abnormal?

Today's FS has become "rojak".

I'll write as many as I can today. Not now, may be tonight.

[steelze 0]

i have a noob question. can i switch my hdb loan to bank loan now?

[neubie 2]

i have a noob question. can i switch my hdb loan to bank loan now?

yo, long time no hear.... why want to switch?

[steelze 0]

yo, long time no hear.... why want to switch?

yo neubie. good to hear from u again..

the bank that i am working for has a staff home loan rate which is 3mth sibor + 0.25%. it's lower than the hdb rate by a lot. this tempted me.

[gimz63251073 0]

geez...bepgof leaving would be a loss...

do reconsider!!

Steelze, casting interest rate movements of SIBOR aside, if you leave the bank, would you still enjoy the preferential rate?

[mach668 0]

geez...bepgof leaving would be a loss...

do reconsider!!

Steelze, casting interest rate movements of SIBOR aside, if you leave the bank, would you still enjoy the preferential rate?

Ya, bepgof should reconsider his decision.

Someone with good knowledge and experience in life. hope he is reading the post and forget about face issues or whatever issues that prompt hime to stop contributing to the forum.

[steelze 0]

Steelze, casting interest rate movements of SIBOR aside, if you leave the bank, would you still enjoy the preferential rate?

hi gimz, unfortunately no. if i leave the bank, my loan will be converted to the bank commercial rate which i think lingers ard 1.5% to 2%.