Financing For Real Estate Investors
New Construction Loans. Rental Property Loans. Rehab Loans. Lines of Credit.
Jordan Capital Finance understands the real estate investor. We offer a wide range of fix and flip and rental programs delivered through a client-focused process. Since we are not a broker, our institutional capital is available when you need it.
Investment real estate is one of the fastest growing segments of the market. At Jordan Capital Finance, our goal is to partner with brokers to grow and diversify their business. We provide the products, support and service necessary to deliver repeat business to our broker partners so that they can fully capitalize on the marketplace opportunity.
Jordan Capital Finance is committed to growing your business. Not only can we provide the funding that your clients need but we also have hundreds of pre-approved investors, with over $500,000,000 in available credit, who are looking for potential projects.
What You Should Know About Personal Loan Interest Rates In Singapore
Some of the factors that will affect the costs your loans are the amount you wish to borrow, your yearly income, and the loan tenure. Generally, a less risky loan has lower interests, and it will be cheaper for a borrower.
Here is how each of these variables influences the borrowing cost.
Your Annual Income
Basically, personal loans that have higher yearly income requirements provide cheaper interests due to the borrower’s lower risk profile. Usually, most banks in Singapore require borrowers to have a minimum yearly salary of S$30,000 to be eligible for personal loans. However, there are loan products made for individuals who earn as much as $20,000 a year.
The loan cost is to be viewed that the longer the loan tenure. Then the annual interests will be lower but the total cost is higher. From a moneylender’s viewpoint, they need to make a given profit from the loans they offer. When a loan tenure about 5 years, then lenders have this time to collect interests and the loan from the borrowers.
Meaning that lenders will be getting more from borrowers through the payment of interests charged. For example, when you take out $11,000 at 5 percent flat interests for each year. This is for the 5 year period. Thus you will need to pay interests of S$2,750 for 5 years. That is (11,000 x 5% x 5 years).
Due to this dynamic, lenders get more giving with interest rates provided on the longer-term loans.
Most licensed moneylenders in Singapore such as those found in this website charge processing fees. This is meant to cover the processing expenses of the loan applications as well as getting the needed materials. This is such as the credit report to help approve the loan. This normally ranges from 2- 3% of the principal. It can sometimes be a fixed fee of between S$80 to S$200 may be charged regardless of the amount you borrow.
Early and Late Payment Penalties
Usually, lenders may not like it if borrowers pay their monthly installments late. Late payments indicate that a borrower might possibly default on their loan. Of which this can result in some loss for a lender. As an incentive to borrowers, so they pay on time, moneylenders have put in place the late payment penalty.
A second penalty known as prepayment or early repayment penalty can be charged. This is only when you settle your debts before the set tenure. This way the lender will make less on the interests than initially expected during the loan signing. To recover from the difference, lenders will charge the prepayment penalty.
The full cost of your personal loan is the total amount of interests plus the processing costs you will pay during your loan tenure. Given that you do not make early or late payments, the amount you will eventually pay to the moneylender for borrowing does not change. You will need to minimize the entire personal loan cost. At the same time ensure that your finances will comfortably manage the monthly remittances needed to settle your loan.