Get peace of mind without the stress of navigating mortgage or commercial loan options.
Trusted Loan and Mortgage Broker in Singapore
At Dream Home Loan, we believe in simplifying your mortgage journey with expert guidance and personalized attention. Our goal is to empower you with the knowledge and options to make confident financial decisions without spending any extra costs.
Are you struggling to get the best mortgage or commercial loan deal because you don’t have the time or expertise to navigate all the options?
Many people feel overwhelmed by the complex process of securing a home or commercial loan. You may find yourself lost in a sea of paperwork, unsure of which loan offers the best terms.
This situation can leave you feeling anxious and uncertain about making such a significant financial commitment. The fear of making the wrong choice or missing out on a better deal can be stressful.
Why Dream Home Loan?
I’ve seen firsthand how confusing it is on the multiple different types of interest rate packages available for selection and time-consuming the loan process can be. That’s why I’ve made it my company’s mission to simplify it for you. With Dream Home Loan’s being empanelled to 16 banks and several private funding companies, I do the legwork for you—comparing offers, negotiating terms, and ensuring you get the best possible deal. Let me help you navigate the loan maze so you can move forward with confidence and peace of mind.
What we do for you
Your Partner in Finding the Best Financial Solutions
Mortgage Loans
As a leading mortgage broker in Singapore, we secure the best interest rates, flexible terms, and a loan that fits your financial situation, whether you’re buying your first home, upgrading to a bigger space, or refinancing your current mortgage.
Commercial Loans
Whether you’re expanding your business, or need funding for a new venture, we help you secure a commercial property loan in Singapore with competitive rates and favorable terms that align with your business goals. So you can focus on growing your business instead of getting bogged down by loan details.
Get access to competitive packages with our bank partnerships
We are a team consisting primarily of ex-bankers who are passionate about assisting consumers in obtaining the best deal possible for their loans using our home loan calculator. We are a leading loan broker in Singapore with a strong track record of securing high approval rates, even for those tricky cases that others might turn away.
Having helped over 120 clients, we developed a deep understanding of the different bank guidelines and requirements, allowing us to navigate the system effectively and get the results you need.
We understand the challenges you face. Let us help you save more and guide you to the best financial decisions, just as we had done for so many others.
What people say about us
Ready to Secure Your Loan?
Don’t let loan complexities hold you back. Contact Dream Home Loan today! As a trusted mortgage broker in Singapore, we will find the best loan solution for you with 0 admin fees. Your dream is just a call away!
Frequently Asked Questions
How Much Can I Borrow To Buy A House?
When determining how much you can borrow, lenders will use your monthly gross income and monthly commitment such as Car Loan; Personal Loan; Education Loan etc for computation. For Private Property, it has to pass the TDSR (Total Debt Service Ratio) at 55% of your Gross Income. Which also means that your total monthly commitment including the new mortgage, cannot exceed 55% of your monthly Gross Income. As for HDB Property, it has to pass both TDSR and MSR (Mortgage Service Ratio) at 30%. The loan assessment also takes into consideration of your Credit Bureau record.
What is a Bridging Loan?
Bridging Loan is a Short term loan of up to 6 months. It helps to pay for the down payment of your new property purchase (less off 5% of the mandatory cash down payment), while waiting for the sale proceeds of your existing house. You will only need to pay the interest on the Bridging Loan during its loan period.
How is the Loan Tenor determined?
Depending on the Loan to Value Ratio that one would like to borrow, you can simply use 65 or 75 to minus away the borrower’s present age, in order to obtain the Loan Tenor. This is in the case of a single borrower. Do note that for properties that are older (e.g with balance Lease of 40 years), you may not be able to obtain the maximum loan tenor based on the tabulation above, as lenders will require at least 25 years of balance lease left after the loan duration has been served completely.
In the past, for cases with more than 1 borrower, the Loan Tenor is based on the age of the youngest applicant. However, since MAS announced on 5 July 2018 as part of a package of measures to cool the property market and keep price increases in line with economic fundamentals, the Income Weighted Average Age (IWAA) was introduced.
How is the IWAA calculated?
(Age of younger borrower x gross monthly income) + (Age of older borrower x gross monthly income) / (Gross monthly income of younger borrower + Gross monthly income of older borrower)
Scenario 1: The income of the younger borrower is higher then the income of the older borrower. Borrower A is 28 years old who earns a gross monthly income of $5,000. Borrower B is 35 years old who earns a gross monthly income of $3,000.
IWAA = (28 x 5,000) + (35 x 3,000) / (5,000 + 3,000) = 31 (Round Up)
Outcome: IWAA is lower.
Scenario 2: The income of the younger borrower is lower then the income of the older borrower. Borrower A is 28 years old who earns a gross monthly income of $3,000. Borrower B is 35 years old who earns a gross monthly income of $8,000.
IWAA = (28 x 3,000) + (35 x 8,000)/(8,000 + 3,000) = 34 (Round Up)
Outcome: IWAA is higher.
Based on the above scenarios, it is generally better for a younger borrower to earn more than an older borrower as it will result in a lower IWAA (31 years vs 34 years). The lower your IWAA, the tenor that can be obtained will be longer. Therefore, it also means that you are able to obtain a higher loan amount since it is stretched over a longer period for the loan repayment.
What is LTV (Loan to Value)?
The LTV dictates the amount you can borrow from the bank. Having a LTV ratio of 55% allows you to borrow up to 55% of the property's value or price, whichever is lower.
Example based on single Mortgagor and Borrower:
Assuming you are applying for your first property loan at 35 years old (at application), take the 65-year cap (if your borrowing is at 75% LTV) and subtract it with your current age. The remaining loan tenure you'll be eligible for is 30 years for a private property loan and 25 years for a HDB bank loan (assuming it’s your only property loan after taking it up).
Note that the balance 5% downpayment must be paid in cash while the remaining 20% can be paid via cash and/or CPF.
What is the difference between a Joint Tenancy and a Tenancy in Common?
A joint Tenancy is where the Property is held in equal proportions. Example: Husband and Wife has equal share of 50 / 50 towards the property co-owned.
A Tenancy in Common is where one can hold 1% of Shares on the Property co-owned while the other party holds 99% of the Property co-owned.
What is a Part Purchase?
Part Purchase is when the shareholdings or ownerships of an existing property is to be restructured.
Example:
Existing: 2 owners of 50% Share each
New Arrangement to be restructured:
1 existing owner to buy over the share of the other so that the property is under one Mortgagor / Borrower only. Vice Versa can be apply but it is termed as Decoupling.
Is a Lock in Package better then a No Lock in Package?
A Lock in Package does not allow one to do a Partial Prepayment or a Full redemption towards the Principle Outstanding Loan amount during the Lock in Period. By doing so, there will be a penalty on the amount prepaid or redeemed which range from 1% - 1.5%. Thus, it will be good to discuss with an expert with regards to the package most suited for you.
News
SINGAPORE
Cooling measures 2023: Higher ABSD rate for second home; 60% for foreigners
Cooling measures 2023 update: The Singapore government announced late Wednesday night (26 April) that the Additional Buyer’s Stamp Duty (ABSD) rates will be increased, effective from 27 April.
Among the changes, the increase is the steepest for foreigners, doubling from 30% (from the December 2021 cooling measure) to 60%.
SINGAPORE
National Day Rally 2023 Housing Announcements
At the National Day Rally on 20 August 2023, Prime Minister Lee Hsien Loong announced new housing plans, including a new classification of flats to replace the mature/ non-mature estate classification, more housing options for single buyers and initiatives to make HDB flats and precincts even more senior-friendly. Read on to find out more.