Welcome to Cash Loan Singapore
Cash Loan Singapore aims to teach you everything you need to know about all kinds of loan available in Singapore, including a mortgage loan, a refinance loan, a home equity loan, a debt consolidation loan, payday advance loan and even a bad credit loan. Use this Cash Loan Singapore guide to determine what kind of loan works best for you and what you need to do to get the best deal for you. What is important is that you find a loan that is suitable for your needs. To help you with that need, Cash Loan Singapore will provide you enough information so that you know what to do and how to apply for your loan. Knowledge is power!
Feel free to browse around this site and see what you need to know and give us your comments.
To get a loan, first you need to determine what type of loan you need Here is a list of the more common loans in Singapore:
Mortgage Loan - The primary loan that is used to buy a house or other real estate property. The mortgage loan is secured (protected) by the lender putting a lien on the house or property that you purchase with the loan. Mortgage loan programs offer the most flexibility of all loans. They can be at a fixed interest rate or a variable interest rate and they sometimes offer many great programs such as first-time homebuyer's discount, no money down, no closing costs and pre-approved loans for prospective homebuyers.
Refinance Loan - A loan that replaces the original loan or loans on your property with a new loan. These loans can be used to lower your mortgage interest rate or to consolidate multiple home loans that you may have on your property. A refinance loan has the same terms as a traditional mortgage loan.
Home Equity Loan - A home loan used to withdraw equity from your home without refinancing your original loan. These loans are typically faster and easier to get than a typical mortgage. They are also appealing because you can get them to fund such things as auto or other miscellaneous purchases and they are typically tax deductible. Home Equity loans come in a variety of types, can be fixed rate or variable rate, and can span from 5 to 30 years.
Fixed Rate Loan - A loan where you pay a fixed interest rate over the life of the loan. These loans typically have a higher interest rate than a variable rate loan, but they are also protected from upward swings in interest rates.
Variable (Floating) Rate Loan - Also known as an adjustable rate (ARM) loan, this type of loan has an interest rate that varies over the life of the loan. The interest rate is typically tied to a benchmark interest rate such as the prime interest rate or the SIBOR rate, and it can be adjusted on a daily, weekly, quarterly or even an annual basis.
Debt Consolidation Loan - A loan that replaces all of your credit card debt, auto loans, boat loans, personal loans and any other loans that you have with one loan. These loans are usually backed by the equity in your home and are beneficial because they can reduce your monthly payments and lower your interest rate significantly.
Payday Advance Loan - A payday advance is a small cash advance from a moneylender or lending company to anyone who is in an emergency situation and is in need of quick cash. Payday advance loans are loans that are repaid to the lender with a post-dated cheque from the borrower's checking account. The post-dated cheque is cashed by the moneylender, or lending company, on the borrower's payday. There is a fee attached to these transactions, and a post-dated cheque amount will usually include that fee.
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