Whether you are a seasoned real estate investor who’s been in the industry for years with such a great portfolio in property or you are a first timer in matters property investment, a guide to real estate investment will never be a waste of your time. For the first timers, this guide is an eye opener on the checklist of the things that you should never miss out on when it comes to making an investment or purchase of real estate property, taking you through the steps to getting your finance for the deal. For the experienced property investors, this will be as good as can be a refresher to get you back to the basics and as such be ever tipped on the tricks to making a successful investment in property. Read on and learn more on what it is that you are to do so as to make it in this industry, buying residential or commercial property of real estate. Visit the Singapore PropertyGuru company to learn more about mortgages.
In this post we take a look at some of the things that you need to take into consideration when it comes to financing your property purchase. See more detailed below.
Ever heard of the concept of “In-Principle Approval, IPA” or otherwise known as “Approval-In Principle, AIP”? Talking of this, this is merely that concept that allows you know what your borrowing capacity is. As such, we can see the fact that this is one of the things that you need to know of as you consider approaching the financial institutions for a mortgage to finance your property purchase. By and large, it is a non-binding, conditional approval that is issued by the financiers and they in most cases remain valid for a period of 30 days. Advisably, the property experts advice that property buyers first determine the loan amounts that they are eligible for before they settle for any property to buy or commit to. One thing that should be noted is that the actual amount that may be disbursed to you may differ from what you had in the approval after the banks have finally reviewed and processed your application. See here for more on IPA or AIP.
The other aspect of mortgages that should be clearly understood by borrowers is that of the differences there are between the fixed and the floating mortgage rates. One thing that should and must be borne in mind and appreciated as a fact is that a mortgage is an instrument that is going to end up presenting you with a whole new dilemma in so far as finances go. See here for more on the facts and tips on the fixed and floating mortgage rates from the PropertyGuru Singapore company. For more information, click on this link: https://en.wikipedia.org/wiki/Real_estate_investing.