All About Loan In Singapore
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Obtaining Low Interest Rates On Your Home Loan With Good Credit

Every working adult will probably think about owning a home one day. The fantasy scenario is to own a house outright without having to pay off a mortgage installment each month. The reality is that the total amount of money that will be used to repay a mortgage loan will be way more that what you have initially bought your house for. The interest can be quite a sum over many years.

Then again, without the banks to finance our purchases, most of us will never be able to own a house. Banks take the money they collected through deposits and loan it back to us at a higher rate. It really is a great business to be in.

No matter which financial institution you go to regarding your home loan, you will want a deal that gives you the lowest interest rates possible. A key thing that can determine whether a mortgage lender is comfortable in giving you good interest rates is you personal credit conduct.

Remember to settle and clear all of your old legitimate debts. Some lenders may lend to those with poor credit. However, that comes with a price of high interest rates. It is best to pay off all your debts before you even go to a bank to apply for a mortgage loan.

Then cut up all of your credit cards EXCEPT one. If you are a hardworking retail therapist, you will know exactly why you have to cut up your credit card. Then make 1 transaction each month and fully settle it promptly. Use it for groceries, petrol, cigarettes, whatever. Make sure to use it once. If you do not pay off the monthly bill when it comes, you may run into bad credit record again.

The most important factor in determining whether you deserve the best lowest home loan interest rates will be your personal credit score.