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?
Any bank in SG do home loans for foreign property?
RobertFisher
20 March 2021 07:30:46
7
beppi
20 March 2021 12:28:21
14820
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
20 March 2021 16:44:31
7
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.
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