New 99 Years Leasehold Development With Panoramic Views in Ang Mo Kio To Be Close to Nanyang Polytechnic

If you are looking for a condominium in Singapore, Amo Residences is a great choice. This apartment complex is spread across four 17-storey buildings, and is comprised of 698 units. It is located in Ang Mo Kio, close to the D20 hub, which has everything you need for entertainment, family fun, and small trips. Amo Residences is a leasehold property. The developer plans to achieve T.O.P by 2017.

Amo Residences Condo is a 99-year leasehold condominium located at Ang Mo Kio Avenue 2. The condominium is surrounded by landed properties and features an open-air landscape. Amo Residences is also close to shopping malls, MRT stations, primary schools, and nature parks. You’ll be living in a prime location with panoramic views. If you’re looking for a condo in Singapore with a great location, Amo Residences is the perfect place for you.

Amo Residences is a modern apartment building that blends elegant interior decoration with modern architecture. Amo Residences features spacious rooms with high-quality decorations and a gym. Other amenities include a guard room, a multi-function hall, an indoor gym, a tennis court, a swimming pool, a paddling pool, and a large, public deck that overlooks the central green space. There’s something for everyone here!

Amo Residences Condo at Ang Mo Kio is located in a prime location close to AMK Hub and other major commercial and entertainment districts. It’s also near the Lower Pierce Reservoir, the CBD, and the future Mayflower MRT station. The condominium is located within one km of several established educational institutions, including CHIJ St. Nicholas Girls’ School, and is near Bishan Park and the Lower Peirce Reservoir. Residents will have easy access to recreational amenities like the nearby parks and the Ang Mo Kio Golf Driving Centre.

Amo Residences is located a short walk from the Mayflower MRT station. It’s 6 stops from Orchard. The upcoming Future Thomson Line will add 31 new stations and connect the existing rail network to the East-West, North-South, and Circle lines. Amo Residences has panoramic views of the Landed Enclaves and Singapore Reservoir Park. In addition to being close to the CBD, Amo Residences also provides easy access to the city’s major highways.

Amo Residences Condo at Ang Mo Kio is located near the Mayflower MRT station, which connects to the Central Business District. It is also located within walking distance of the existing Ang Mo Kio bus interchange and the Central Expressway. It is convenient to reach reputable schools and the Business Hub, while still being located close to the Central Expressway and Seletar Expressway. Amo Residences also offers the best direct developer price.

It is located near a thriving residential area. The future Mayflower MRT station is located nearby. Nearby CHIJ St. Nicholas Girls’ School, Anderson Junior College, Nanyang Polytechnic, and James Cook University campus, it is a great option for those looking for a home with a central location. The condo’s proximity to the city center, and the CBD is also close to the development site.

After a relaunch, Amo Residences Condo at Ang Mo Kio is expected to fetch prices 10 per cent lower than the initial launch price. This comes after rival developers cut prices earlier to boost sales. The new prices for a one-bedroom unit at Amo Residences could start at $565,000 (or S$710,000 for a two-bedroom unit), while a three-bedroom unit might fetch up to $1,175,000.

Posted on

How Beauty World Integrated Transport Hub Will Increase Property Price

How Beauty World Integrated Transport Hub Will Increase Property Price

This article will provide you with a quick review of how the Beauty World Integrated Transport Hub will impact the property market in Singapore. You’ll also learn about the Bukit Timah Community Building, the Bukit Timah Market and Food Centre, and Jalan Anak Bukkit Condo. There are plenty of other factors that affect property prices in Singapore, but these three developments have been cited as key factors to consider.

Beauty World Integrated Transport Hub

The new Integrated Transport Hub at Beauty World is expected to dramatically increase property prices in the vicinity. The Beauty World MRT station is located near Bukit Timah Community Club, which will be redeveloped into a vibrant market and hawker centre. The community club will also feature an indoor sports hall, community library, and enhanced facilities for the elderly. This project is an ideal opportunity for investors and homebuyers alike.

The beauty of the beauty world development is that it is a freehold development, so the price will increase as long as it meets the minimum investment requirement. The Integrated Transport Hub will increase the value of property by an estimated 25%. The development has excellent accessibility and will be fully integrated with surrounding commercial and lifestyle amenities. The Integrated Transport Hub will also attract a large number of investors, as the integrated transport hub will be a major draw for home buyers.

Another key benefit of the new Integrated Transport Hub is the fact that it will bring more employment opportunities to the area. The development will be directly linked to the Downtown Line and the Rail Corridor. The development is also near the Bukit Timah Nature Reserve and renowned tertiary institutions. The LINQ at Beauty World will increase property price substantially. In addition to being the epitome of integrated luxury, The LINQ is near the Bukit Timah Nature Reserve, a major shopping centre, and a major entertainment complex.

The development will have an Integrated Transport Hub that will serve as a bus interchange and will connect the MRT to the commercial area. The Integrated Transport Hub is designed to serve as a central hub for the surrounding communities and residents. It will offer convenient transfer from the MRT to bus services and other public transport services. This will bring more vibrancy to the area. This is especially beneficial for property owners who are looking to sell their properties.

Bukit Timah Community Building

The beauty of Beauty World is the location, as it is near the future Integrated Transport Hub. There are four shopping malls within the complex, including the upcoming LINQ at Beauty World. Aside from the retail stores, the area will also be home to several reputable schools. This is a great asset for property buyers looking for convenience. The LINQ is located in the vicinity of Bukit Timah Community Building and Beauty World Integrated Transport Hub.

Property buyers are increasingly interested in properties near ITHs because of the convenience they offer. Living near an ITH allows people to run errands, shop conveniently and travel to various destinations easily. In fact, properties near an ITH can fetch up to 25% higher than other properties. A new development will create a dynamic living environment for new residents, resulting in a higher property price. Beauty World Master Plan is an excellent example of an integrated development, which will include a one-stop integrated facility, a community club, a seniors’ facility and park connectors.

The beauty of this development is not just a new shopping mall, but also the community club and hawker centre. The Bukit Timah Community Building will also be integrated with the new beauty world MRT station. The Bukit Timah Community Building will include a community centre, an indoor sports hall, a library, and eldercare facilities. The beauty world integrated transport hub is expected to add around 3% to the property price in the area.

The beauty of Beauty World will increase property prices in the vicinity of the area. Beauty World’s Integrated Transport Hub will be a hub for integrated transport and will facilitate smooth connections between the adjacent Beauty World MRT station and various commercial developments. Bukit Timah is home to many luxuries, outstanding connectivity and great dining and entertainment facilities. Located near Jalan Jurong Kechil, the Jalan Anak Bukit Condo is a desirable residential investment.

Bukit Timah Market and Food Centre

The Bukit Timah area is located at the gateway to the green lungs of Singapore. It is undergoing a major transformation with the construction of the Cross Island Line (CRL), a 24km rail corridor spanning the entire length of Singapore. The Cross Island Line is expected to be completed by 2029 and its ridership is estimated to reach 600,000 in its first year, and will increase to more than a million in the long run. It will also add to the appeal of the surrounding residential areas.

The Linq at Beauty World is a mixed development with 120 residential units on the top floors and 54 commercial units on the ground levels. It is a well-connected area and is within walking distance of major amenities. A carpark will be built on the ground level, as well as an outdoor refreshment area. The Integrated Transport Hub will significantly increase the property value of nearby properties.

The Linq @ Beauty World is located on the edge of the landed enclave and the Pan-Island Expressway. It is surrounded by lush greenery and is just one Clementi Road away from the Prime Bukit Timah District. The Linq was previously known as the Goh & Goh Building. It was purchased by BBR Holdings for $101.5 million and is expected to increase property price significantly.

The Linq @ Beauty World is another freehold development that will feature luxury condominiums. The units are fully furnished and offer all of the typical condominium amenities. They also come with a fitness centre and entertainment centre. The Linq at Beauty World is near reputable schools such as Methodist Girls’ School, Pei Hwa Presbyterian Primary School, and National University.

Jalan Anak Bukit Condo

The proximity to the MRT station and upcoming beauty world are just some of the reasons that Jalan Anak Bukit Condo increases property prices. Beauty World is a new integrated transport hub designed to provide better connectivity to the Bukit Timah area and other major shopping districts. The condominium is also close to the airport and taxi services. The URA is releasing a concept tender to build Jalan Anak Bukit. The total number of residential units will be 845, which will include a mix of flats and serviced apartments. The total floor area is 96,551 sq m, including 400 sq m for shops.

The beauty world Integrated Transport Hub is set to be a major boost to the property value in the area. The URA has recently adopted a concept proposal for this mixed-use development, which will allow for 100 residential units and one level of retail space on the first storey. As part of the design concept, the new building will have an atrium entrance and serve as a landmark.

This development is strategically located, directly ahead of the Beauty World MRT station, which is expected to be completed by 2020. Because it is connected to the Pan-Island Expressway, it is well-connected to other parts of Singapore. The Cross-Island Line project will also enhance connectivity to the area. With all this added value, Jalan Anak Bukit Condo will be one of the most desirable condominiums in Singapore, and it should increase property prices.

Despite this potential, it is difficult to know whether Jalan Anak Bukit Condo will increase its property price. However, the development is undergoing revitalization, and if you’re looking to buy in this area, it’s a good idea to get in now while the prices are low. You’ll be glad you did. With an estimated increase in property price of $1.6k PSF, you’ll have plenty of options to choose from.

Paya Lebar Regional Centre

The paya lebar quarter project is one of the largest HDB estates in Singapore with more than 1,700 units. It is expected to be one of the most expensive HDB towns in Singapore. The Paya Lebar Regional Centre will be a new commercial hub with Grade-A office spaces, retail, and high-end residential units. Its adjacent sites will provide additional redevelopment land. Bishan Sub-Regional Centre will also undergo a transformation into an employment node with easy access to the Downtown Line.

The upcoming beauty world integrated transport hub will add value to properties near the MRT station. The project will also include 700 residential units and 150 serviced apartments, 20,000 sq ft of commercial space, and an air-conditioned bus interchange. There will also be an underground link to the Beauty World MRT station. The URA has also allocated more space for parks. With these two attractions, the price of property in this area will only increase in the future.

The nearby beauty world MRT station on the Downtown Line has already brought about a surge in human traffic. The neighbourhood has seen several recent attempts at en bloc sales. One such attempt was made last year. In the meantime, the Goh Building is under construction. Both will be converted into condominiums. There are several new condos under construction within walking distance of the new MRT. Some of the new condos include Daintree Residence and View at Kismis. A further plus for this neighbourhood is that the new condos will offer modernized retail facilities.

A prime location and excellent connectivity are two essential factors for an investment in this district. Geylang is an area where the red light district is located. In recent years, however, it has become more investor-friendly and affordable. Besides its affordable property prices, it’s also close to the CBD. Paya Lebar was identified as one of the key growth areas in the URA master plan. The area has grown to become a bustling commercial district.

Posted on

New Properties Launching in Tengah Town With Green Attributes

Greater than 1,040 Build-To-Order (BTO) flats in Tengah will be on sale this month as Singapore’s most recent community, billed as a “forest town”, remains to form. The Parc Residences @ Tengah task is the first BTO housing parcel to be released offer for sale in the new Park area, the Housing Board revealed on Monday. Park is the third of five districts in the town to see a BTO launch. It will certainly hold an approximated 7,200 brand-new flats when fully finished.

Located beside Tengah’s eco-friendly features called Central Park, the district will certainly inhabit 104ha and also feature a number of environment-friendly methods such as a 1.5km-long jungle stroll that weaves through different housing projects. Tengah covers regarding 700ha in the west. Regarding the size of Bishan, it is the first HDB community to be established since Punggol more than 20 years earlier.

Tengah’s Green City Concept offers residents the opportunity to live in a sustainable eco-friendly town. Tengah Green City aims to strengthen the connection between the ecology and development of the community. Through its sustainable planning process, Tengah’s executive condominiums are located in close proximity to rivers, the forest and the coastline. Through its Green City Concept, Tengah aims to enhance its ecological assets and thereby reducing the negative impact of its development. A big part of Tengah’s Green City Concept is its use of sustainable building technologies including solar-geothermal design, sustainable materials and energy, passive solar design and active solar design and construction.

Public housing in 2 of the districts – Plantation as well as Garden – were launched earlier. The various other two areas in Tengah are Brickland and also Forest Hill. The Tengah masterplan was first revealed in 2016. Considering that 2018, the HDB has actually launched more than 7,000 new flats throughout 6 BTO projects in the town. When completely created, it will certainly supply concerning 42,000 brand-new residences.

A vital attribute of the brand-new Park district is the Tengah town centre, Singapore’s first “car-free” town centre which will be integrated with the neighboring Central Park. Roadways will run underneath the town centre to liberate the ground degree for retail and entertainment use, and to allow for a bicycle-friendly atmosphere. It will also house an array of industrial and retail spaces, eateries and a sporting activities centre, and also will be directly linked to a future MRT station, among 4 stations on the upcoming Jurong Region Line (JRL) network that will certainly serve Tengah locals when it gradually opens from 2026. These apartments are spread out throughout 12 residential blocks, with staggered elevations ranging from seven to 14 floors. Flats will be oriented to maximise eco-friendly views, claimed the HDB.

The town’s sustainable strategies aim to reduce the negative impact of Tengah on the environment. During the construction of Tengah’s executive condominiums, residents are provided with a LEED certified building. This means that the district has achieved the highest standards of sustainability in building. LEED certification is an indicator that the construction in the LEED zone is environmentally responsible and sustainable. It also means that upon completion, the building will contribute positively to the overall environment.

The blocks will certainly be incorporated with a 16,000 sq m neighbourhood centre that includes a pedestrian shopping mall and also a polyclinic. The centre is approximated to be completed in 2025. The multi-storey carpark within the BTO job will certainly include a rooftop garden as well as plainly positioned staircases to encourage residents to climb up the steps for healthy living.

Its ground degree will be kept car-free to house services such as a childcare centre, health and fitness terminals, and also a playground. Flats will certainly come with an additional data factor as well as power factor, as well as clever sockets and a clever circulation board so homeowners can adopt wise home gadgets easily. The houses become part of a “new generation of public housing materializing in HDB towns”, stated the HDB. ” Incorporating nature and elements that advertise health and wellness, they will even more improve the overall lifestyle for citizens,” it added.

Parc Residences @ Tengah was originally slated for a launch in May however the expansion of the breaker duration forced a postponement. Park is the third of five areas in the community to see a BTO launch. One factor to consider for future locals is that the community is close to Tengah Air Base, which will certainly be more broadened to accommodate the moving of Paya Lebar Air Base.

The Tengah EC also offers its residents numerous sustainable developments and amenities that provide a range of green opportunities for residents. Tengah Green City features a comprehensive integrated community that provides residents with a number of green spaces such as park spaces, a bike path and a garden walk. The garden walk is designed to encourage fitness, improve circulation and provide residents with a comfortable place to walk around and experience the natural beauty that surrounds them. Tengah Green City features a network of paths and gated communities that offer residents the opportunity to socialize, work and play. Tengah residents can take advantage of public recreational facilities such as pools, spas and tennis courts.

The HDB had previously claimed Tengah will adhere to planning standards and also take into account possible bordering sound sources and also the permitted sound degree. Blocks will also usually increase to 14 to 15 storeys in elevation to take into consideration planes flying overhead. Besides Tengah, the HDB will certainly later this month offer about 7,800 BTO apartments in Ang Mo Kio, Bishan, Choa Chu Kang, Geylang, Pasir Ris, Tampines as well as Woodlands.

A more 5,700 apartments in Bishan, Sembawang, Tampines, Tengah and Toa Payoh will certainly be introduced in November. Amongst these, the apartments in Choa Chu Kang and Tampines North (August 2020) and Tengah (November 2020) will have much shorter waiting times.

Citizens who have obtained flats in Tengah to appreciate green attributes as well as clever modern technologies in Singapore’s first clever and also lasting community, while staying near their moms and dads, have much more reasons to applaud. Come 2027, locals in Tengah Town, in addition to Jurong East and Jurong West towns, can look forward to direct accessibility to the Pan Island Expressway (PIE) eastbound (towards the city and also Changi Airport) as well as westbound (towards Tuas), with the conclusion of a new interchange at the PIE and Jurong Canal Drive (JCD). The Land Transport Authority (LTA) will certainly be calling for a tender by the end of 2020 for the infrastructural jobs. These consist of:

Building and construction of a brand-new 0.5 km dual 4-lane flyover along the PIE near the departure to the JCD. Construction of a brand-new at-grade road junction listed below the brand-new flyover, which will attach the PIE, JCD as well as Tengah Boulevard causing Tengah Town. Expanding of the PIE in between the Hong Kah and also Bukit Batok overpass and also linked junction renovation works in the Jurong location.

The town has been designed to encourage active recreational activity and offers residents and visitors an exciting lifestyle. Tengah’s sustainable living initiatives include the installation of a multi-purpose sports field, equestrian centre, library, fitness centre, public park and a green village. The mixed-use facility offers residents and visitors a variety of recreational opportunities including basketball courts, squash courts, an indoor golf course, an auditorium and a restaurant. Tengah Central Park also offers residents and visitors access to a bus servicing the central business district of the city.

In order to assist in the building and construction of the new flyover and also at-grade road joint, a 1.5 km stretch of the PIE will certainly be changed northwards onto a part of Jurong Road. With this, traffic leaving Jurong Road will be re-routed to ply the PIE prior to joining Bukit Batok Roadway. Mr Xie Yao Quan, MP, Jurong GRC for Jurong Central as well as chairman of the Jurong-Clementi Community Council, stated in a Facebook blog post that he will function carefully with LTA as well as other firms to minimise inconvenience to citizens throughout building. “The works will attach Jurong Canal Drive straight to the new Tengah Town across the PIE and connect Jurong Canal Drive to the PIE [eastbound] for direct accessibility to the city,” he states. “Along with the upcoming wellness hub along Jurong Canal Drive, which will include a much bigger Jurong Polyclinic and a brand-new assisted living facility as well as care centre, we are transforming the heart of Jurong Central to serve citizens also better.”

Posted on

Review of Ang Mo Kio Properties

If you are looking for a new property to invest in, then it is time to look at Ang Mo Kio properties. The area surrounding the mall is one of the most sought after areas in the whole of Singapore, full of good cafes, shopping centres, and eating joints. This makes the place convenient for people who want to move around and do shopping. Most houses here have good facilities like electrical sockets, safe points of entry, ventilation, parking lots, and a well-kept gardens. Most houses in this area are also placed close to good schools, supermarkets, and other services.

Ang Mo Kio is a retail shopping centre located within the north-eastern region of Singapore. It is connected to Ang Mo Kio Bus Interchange that is also connected to Ang Mo Kio MRT Station through an underpass. The mall has more than 48,000 square meters of retail space and 350,000 square meters of public space. This makes it the largest shopping malls situated in Singapore and is renowned for its wide variety of shops and restaurants.

Apart from the shopping malls, this mall also has a hydroponic fruit and vegetable store, a food court, a Chinese supermarket, a health food store, and an open air market. There are also many food courts located in this mall, and are operated by franchisees. There are a hydroponic fruit and vegetable store situated in this same mall, but is not a part of a franchise. This hydroponic fruit and vegetable store are additionally located very close to several other restaurants, hotels, banks, as well as serviced apartments.

An important feature of this shopping mall is its outdoor seating area. It can accommodate more than two hundred people, which makes it one of the largest shopping malls in Singapore. In addition to this, there are also over forty restaurants and bars situated in this center, making it a popular tourist destination. Among the restaurant locations, there are over twenty fast food restaurants, nineteen pizza places, five snack houses, and over twenty seafood eateries. There are also numerous sit down eateries around the mall, making it one of the most versatile shopping malls in Singapore.

Ang Mo Kio Properties is primarily focused on real estate development in the commercial and residential segments of the property market. This mall is strategically located near several well-developed residential communities in the city of Greenwich is, including Clarke Quay, Ang Moi Street, and the new residential community of Newlands. Other properties in this mall include retail shopping centers and petrol stations, in addition to the hotels and restaurants. Most of these shopping malls are open until late in the night, with the exception of the early morning hours.

The second largest shopping centre in the country, Seng Off came up in 1998 and is located near the corner of Central Business District and the Ang Mo Kio International Airport. Like the other shopping malls in the area, it is focused on luxury items, including the brands of Louis Vuitton, Burberry, Dior, Bvlgari, and Tiffany & Co. It additionally has a wide range of local and foreign restaurants, bars, and lounges. Seng Off features a wide variety of hotel accommodation options, including some of the best resorts in the country, as well as an international airport and Convention Center.

The third shopping center, the MRT Station Ang Moi, is located nearby. It offers a wide range of convenience stores and restaurants. It is also home to a number of hotels and restaurants that offer a wide variety of cuisines. MRT station Ang Moi is often congested with both commuters and tourists. It is however, conveniently situated close to the Wat Mongkol Nimit temple and several other important temples and tourist attractions.

These are three of the top most places to be when in the city of Singapore. They are all located near major bus and train stations and are within walking distance of many hotels, resorts and other attractions. Review of Ang Mo Kio Properties, and other luxury real estate Singapore properties in the region should be done before choosing where to stay.

Posted on

Finance Website For Pre-Approved Home Loans

Finance Website For Pre-Approved Home Loans
Finance Website For Pre-Approved Home Loans

Somebody once said, “There is always a way of knowing your limitations and going beyond it.” It is fundamentally true with respect of credit score. There can be nothing more rewarding during loan borrowing than knowing your credit score. There are many people who are practically unaware of what their credit score is; in fact they don’t even know what it means. This credit scoring system has been used since many years to decide whether a borrower is a credit risk or not. Your credit score is immensely decisive in the acceptance and rejection of your loan application.

What is a credit score?
Credit score is a statistical method to assess the credit worthiness of a prospective borrower. Credit score has all the in depth information about your credit experiences. All information about bill paying history, the accounts you have, and the age of these accounts, late payments, outstanding debts. A statistical method is used to compare credit profiles with borrowers with similar profile. Points are awarded for every factor that promises debt repayment. The total number of points tell how likely it is that you will pay the debt when the payments are due. These points are your credit score which is a three digit number.

Understanding a credit score leads you to the question of how do you get a credit score. Every time you have borrowed credit or used it, you get a score which exhibits how you have managed that credit in the past. The loan lenders rely on a credit scoring system which gives grades. Grades A to D are provided to scores which range from 500 to 620 or above in figures. If your credit grading is either C or D or your credit score ranges from 500 to 535, you are heading in for bad credit loans.

If you have suffered from any previous delayed payments or charge offs – the chances are that your credit report would have its account well embedded in it. Many loan lending companies and banks are wary of people with bad credit score. However, more and more loan lenders have overcome their inhibitions and are offering loans for bad credit score.

Don’t worry, if one day you find that your credit score is bad. Today one-third of the people applying for loans have some kind of credit imperfection in their credit report. Bad credit score is so easy to catch that people get blemished credit score for a reason like not having a permanent residence. Credit score has received new threats like unpaid parking ticket, an ignored traffic fine or even a forgotten library book. This definitely effects the credit reliability of an otherwise good borrower, but it also effects creditor for he might be rejecting a trustworthy borrower.

Credit report is integral to credit score. Submit accurate credit report with your loan application. You can get copies of your credit score through any of the three major credit reporting agencies.

There will general information like your current and previous addresses, your date of birth, telephone numbers, driver’s license numbers, your employer and your spouse’s name. Credit history will have information about your personal accounts. The public records account is better off blank, for a public record implies you have had a problem. It records financial data like bankruptcy, county court judgments, charge offs, defaults. The last section called inquiries includes a list of everyone who has asked for your credit report.

Now, if you have a bad credit score there are way to overcome this situation. The first basic way to start is paying your bills on time. You can ask your lender to move your payment date if you can’t pay on time. Closing accounts won’t help your credit score. However, closing unused accounts would be beneficial because they are seen by creditors as credit risks. Don’t stretch beyond your credit limit; rather try to keep the balance at 50% of the credit limit.

Credit score requires continuous hard work. With bad credit score it is never too late to start. And with a good credit score you have to give in a lot of hard work. Being educated about your credit score is like a boon. Having a good credit score strengthens your position and you can ask for better rates which is your right. Any information is good information. Therefore, knowing your credit score, would lead to where you should go – towards the right loan.

Pre-approved home loans are the way to go now days. Pre-approved home loans mean that no longer do home buyers have to spend hundreds of hours searching for the perfect home only to be turned down by the lending institution. With a pre-approved home loan or pre-qualification letter, a buyer is in an immediately better bargaining position in regards to the seller.

Consumer Finance Service, LLC – offers unsecured personal loans, debt consolidation loans, secured and unsecured business loans.

Sellers are much more interested in showing their homes and negotiating with someone/s who already have a pre-approved home loan. This is because heartbreak works both ways. No longer do seller have to spend hours cleaning and straightening and making arrangements with their real estate agent for showing their home, only to find that the buyer does not have a pre-approved home loan and has been denied a loan by their lenders. In fact, now many sellers will only show their homes to those with pre-approved home loans under their belts. Sellers regard this group as serious buyers rather than weekend lookers.

Both buyers and sellers need to know the difference between pre-qualification and pre-approval. Pre-qualification is an informal agreement between you and your lender. The bank gives their opinion on how much they think they will be able to lend to you based on information that you have provided to them. Your lender will not do any background checks at this point. It relies solely on you portraying an accurate picture of your financial circumstances. Because this is more like a friendly handshake, the lender can decide not to give you the loan if they find out later that you have been less than candid with them.

Pre-approval is for the serious-minded. With a pre-approved home loan, the lender will actually check credit history, employment information, assets and liabilities. The only thing the lender won’t check is the property that you plan to buy. This is because you’re still looking for it. For those who are concerned that they might not qualify for a mortgage, it is highly recommended that they go for pre-approval. A pre-approved home loan takes much of the worry out of looking and keeps one focused on searching for homes within their price range. This still doesn’t mean your loan will be approved since the lending institution will still need to take a look at the home you intend to buy, but the odds are more in your favor than with a simple pre-qualification.

Even one-step more secure than a pre-approved home loan is a loan commitment. Banks and other lenders will not issue a loan without checking out both you and your new home. The bank may run additional financial checks on the buyer plus the home must appraise at or higher than the sales price. The home’s title must also be clear and free of problems. The loan commitment happens only once you’ve found a home. While you’re looking, though, getting a pre-approved home loan will make the process go smoother and save a lot of heartache in the end.

Posted on