Prepare your supporting documents
Organise identification, income evidence, bank statements, employment and tax records, and other relevant income documents. Applicants working in Singapore or applying through a business may need additional supporting records. Ask the lender for its current checklist.
Understand repayment capacity
A lender considers income, existing commitments and credit history. DSR compares debt repayments with the income used by the lender; its method and acceptance criteria vary. Assess what you can comfortably repay as well as what you may qualify to borrow.
Compare the complete offer
Compare the effective interest rate, repayment term, fees, lock-in conditions and repayment flexibility. Credit history is one factor, not a promise of approval. Do not take on unnecessary debt just to create a credit record.
Adapted from MadFly PropMart’s original guides. Historic rates, tax concessions and numerical thresholds are not reproduced as current advice. Original source
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