Property Mortgage Loans
Differences in Mortgage Loans
Bank | VM Credit | |
---|---|---|
Basis for loan approval | Income, credit score, credit history, etc | Real Estate |
Minimum credit rating | BB | Not Critical |
Documentation | Significant | Minimal |
Property Types | Typically residential and commercial (depending on trades) | All except HDB and JTC properties |
Loan Terms | Rigid | Flexible |
Approval Process | A few days to a few weeks | Within 1 weeks |
Loan Disbursement | 2-3 months from approval | Within 1-2 weeks from approval |
How We Work
![](https://www.staging.valuemax.com.sg/wp-content/uploads/2021/08/settings-4-line-1.png)
Step 1
Processing & Approval
- With all necessary documentation submitted, we will process your application, and you will hear from us within a few working days, depending on the complexity of the case.
![](https://www.staging.valuemax.com.sg/wp-content/uploads/2021/08/stack-line-1.png)
Step 2
Loan Disbursement
- We will send you a letter of offer.
- Upon acceptance, we will proceed with mortgage processing.
- Loans will be disbursed as fast as within a few working days from loan approval (for fully paid properties); and up to 4 weeks (for properties with existing bank loans and/or CPF usage due to the longer time it takes your existing financier to prepare the redemption documents).
![](https://www.staging.valuemax.com.sg/wp-content/uploads/2021/08/computer-line.png)
Step 3
Monthly Repayment
- Our no-frills approach allows you to choose between:
– Cash
– Cheque
– Interbank Transfer
– GIRO to make your monthly repayments