Our secured loan facility may or may not have a prepayment penalty depending on the specific loan scenario. It is always a prudent practice to check with us upfront on the prepayment penalty is if any when making the initial enquires.
The following table summarizes the key differences in terms of mortgage loan features between a conventional bank and us.
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|Basis for loan approval||Income, credit score, credit history etc||Value of Real Estate|
|Minimum credit rating||BB||use credit rating for reference only|
|Property Types||Typically residential and commercial (depending on trades)||All except HDB and JTC properties|
|Loan Tenure & Repayment Structure||Rigid||Flexible|
|Approval Process||A few weeks||Within 2 weeks|
|Loan Disbursement||3 months from approval||Within 2 weeks from approval|