What is a Renovation Loan?
A home renovation loan in Singapore is a loan for home improvement. This money can be used for:
: Painting your walls
: Electrical wiring and other electrical works
: Purchasing and installing built-in cabinets
: Flooring and tiling
: Bathroom fittings
: External work on your compound
: You can take on an additional Furnishing Loan with the renovation loan : package to get new furniture
A home renovation loan Singapore is ideal as you probably don’t have $50,000 readily available. Instead of exhausting your savings and spending it all on a home renovation, it would be wiser to consider taking up a renovation loan. It will ease your financial burden, and more importantly, ensures the savings you have set aside can be used for future emergencies or more pertinent situations.
Am I Eligible for Renovation Loans?
As this is a rather large sum of money, you should make sure you are committed and set on a renovation before taking on a loan. There are some requirements you will need to meet before applying for a renovation loan in Singapore. These are:
: Applicants MUST be at least 21 years of age
: Proof of a stable income
: NRIC/Permanent Resident Proof
You can borrow up to 6 times your income, but this figure is subject to each individual.
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Help articles by Winz Credit licensed Money Lender
Now that you have the keys to your new house, what is the first thing that comes to your mind? If you are like most people in Singapore, renovation is the next big project. Of course, the home purchase process has drained you financially, but there is still burning desire to customize your house.
Whatever renovation idea you have in mind, you must be concerned about the cost. Luckily, the local financial market now has a way out for homeowners seeking to renovate their houses. Whether your place is new or you want to give an old house a facelift, a renovation loan with Winz Credit, a reputable and licensed moneylender will go a long way. Your home upgrade loan funds important renovations to give the property your personal style.
This is where a Renovation Loan from Winz Credit can come in handy.