Mortgage Insights

Mortgage Basics

What is mortgage refinancing?

Mortgage refinancing is replacing your existing loan with a new one, often to secure better rates. Loan interest rates usually spike up after the lock-in period, so do re-examine it.

How do I apply?

You can contact us directly on WhatsApp for assistance with your application. We help you narrow down suitable loan package.

What documents are needed?

You'll need proof of income, identification, and details about your current mortgage for the application process.

How long does approval take?

Approval typically takes one to three weeks, depending on your financial situation. Thereafter, you will have to serve 2-months notice to your current bank.

What are cashback & subsidies?

Banks may give cash rewards or subsidies to help offset some of the legal and valuation fees incurred during refinancing. At Mortgage Crunch, we also give you cashback that are in addition to the bank's rewards or subsidies you will receive.

Can I refinance multiple times?

Yes, many do refinance multiple times until their loans are paid off. However, as your outstanding loan balance shrinks below $300k for private property or below $100k for HDB, your options to refinance becomes very limited.