Any bank in SG do home loans for foreign property?

Member since 17 August 2020

RobertFisherNew member20 March 2021 05:30:46

I have been trying to re-finance a USD 380K home mortgage in California. Apparently most US lenders don't accept my SG income source; they said they "cannot verify". The only bank I found that can do so, HSBC, provides a rate that does not make sense for my situation. My loan is at 4.25%, the offer is at 3.85%.

So I am thinking whether I can try it the other way -- borrow from a SG lender who, hopefully, can work with SG-source income.

So, does anyone know any bank in SG can do home loans for a property in California?

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beppi Germany/Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany/Singapore Expert20 March 2021 10:28:21

15623

Singapore banks cannot verify any US property and its value or status.
Therefore the answer is No.
Why don't you take the HSBC offer - after all, it is better than your current terms!

RobertFisher New member

Member since 17 August 2020

RobertFisherNew member20 March 2021 14:44:31

beppi wrote:
Singapore banks cannot verify any US property and its value or status.
Therefore the answer is No.
Why don't you take the HSBC offer - after all, it is better than your current terms!

I am just still in a "shopping around" mode. The 3.85% rate is a bit disappointing, since I have been hearing rates below 3%. But I do realize that may not be rates applicable to my particular situation.

If nothing works out, yes I can only consider that offer.

At the same time, I think I will try to pay off the loan early with some cash I have growing in the stock market. So I have to factor that in, to see how that outlook changes the equation. This stuff is a lot to think about.