Refinance Loan.
Housing Authority has a very competitive package for customers who wish to refinance their existing loan from other financial institutions to Housing Authority. The client has an option to consolidate all his/her other personal loans, car loans, credit unions etc. to refinance with 4.45% interest whilst moving to Housing Authority, provided all his loans fall under 80% of the value of the property. Client can also have an option for no deposit if all his/her loans is less than 80% of the value.

For refinancing clients, application fee, valuation fee, conveyancing is waived.

Terms and Conditions.
Interest rate of 4.45% fixed for two years and 7.99% thereafter. Client must have an existing mortgage with any other financial institution.
Loan term of 30 years depending on the age. Client has to be 21 years or over.
Deposit of 10% for salary deduction clients and 30% for cash paying clients only applies if total loans above 80% of the value of the property.
Total commitment of 35% of gross salary for income less than $25,000 per annum and 40% above $25,000.

Requirements:
Approved Plan
Engineers certificate
Certified true copy of title.
Pay slips / Statutory Declaration (Self employed)/ Income Statements / Cash flows / three years audited financial report.
Marriage or Birth certificates.
FNPF Housing eligibility statement if arranging deposit from FNPF.
FNPF Card / Passport / ID Cards.
Bank Statement for at least 6 months.
Statement of any village loan from FNPF
Application fee $27.50.
Letter of request for full settlement to Housing Authority.