02 Mar '12, 9am

Mortgage Loan Fact Sheet

Financial institutions who provide housing loans will now be required to provide a loan fact sheet to the person taking the loan. The objective of the fact sheet is to help potential borrowers see the basic information of the loan in an easy to read format. Borrowers will also be given projections of the loan repayment amounts if the interest rate changes. This is a good thing as some people might not be aware that the monthly loan repayment amount can change drastically if there is a big change in interest rates. Hopefully, it can encourage prudence among property buyers. … Read the full article → Related posts:Fact Sheet for Property Loans Saizen Reit Repays YK Shintoku loan tougher rules to rein in moneylenders

Full article: http://thefinance.sg/2012/03/02/mortgage-loan-fact-sheet/

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