for ECs purchased during that time. “That made it clear and nailed the deal for us,” leading the couple to buy their first property in Pasir Ris.
Check out SmartRefi from PropertyGuru Finance to find the optimal time to refinance and save more on your home loan with the lowest rates.Talk To Our ExpertsAlvin and Jacelyn enjoy reading about and staying up to date with the latest market trends in their free time. Due to the fluctuating SIBOR rates, the couple felt it was necessary to stay up to date with the latest financial news.
Compared to their previous SIBOR-pegged home loan with UOB at 1.95% p.a. over 40 years, the couple’s new refinanced loan offered a fixed rate of just 1.5% over a 30-year period. Thanks to the lower interest rates after refinancing, the couple could pay the remainder of their home loan at the same monthly instalment of $2,000, but with a much shorter tenure of 30 years. Also, the 0.45% p.a. savings on interests works out to around $3,000 that the couple is now saving yearly. Imagine if the savings were multiplied by 30 years, what a difference it would make!