Buying a house is an exciting event. It will probably be the biggest investment you will make in your life

Buying a house is an exciting event. It will probably be the biggest investment you will make in your life. If this is your first time buying a house, it  might struggle to understand of all the information banks throw at you when you need a home loan. Here at iMoney, we LOVE breaking down complexities into simple bite sized chunks. Here is a simple guide to help you understand how a housing loan in Singapore work:

Two Common Types Of Housing Loans in Singapore

Banks usually offer the following housing loans: 1) Fixed Interest rate loan, and 2) Floating rate Loans (or Flexi-Loan).

A fixed rate Loan requires you to pay a fixed amount each month for a set period of time. This predictable payment each month allows you ...