A Buyer’s First Step

The first step any buyer should take before they even start looking at properties is to talk to at least two mortgage bankers. A mortgage banker will be able to advise you on the loan quantum (amount of money you can borrow) that you are eligible for. You will also be able to find out the various loan packages available and the loan application process.

It is very important to know how much loan you will qualify for as this will help you narrow down the type of properties (at least in terms of price) you should be looking at. It is strongly recommended that you get an “approval in principle” from at least one bank. This will prevent surprises – finding out that you cannot get a loan from the bank only after you have put down the option money for a property.

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I work closely with qualified mortgage bankers from both the local and foreign banks in Singapore. If you would like me to put you in touch with one (or a few for comparisons), do let me know.