The Business Times
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MAKING BANK

Find a loan before a home, not other way round

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Yong Jun Yuan

Yong Jun Yuan

Published Mon, Oct 2, 2023 · 05:00 AM
    • It is probably easier to imagine yourself living in a new home than it is to consider the loans you need to pay for that property.
    • It is probably easier to imagine yourself living in a new home than it is to consider the loans you need to pay for that property. PHOTO: CHERYL ONG, BT

    IT IS easier to browse for houses online than it is to think about the debts that you will incur when buying a property.

    Yet, unless you have S$2.4 billion in unmarked assets lying around, you will likely need to get a mortgage to pay for your house.

    For a decision that can be as emotionally charged as buying a home, potential homebuyers should consider their budgets before house-hunting, said David Baey, chief executive of mortgage broker Mortgage Master.

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