Mortgage Jargon U-Z
Valuation
A report as required by the CPF Board and financial institutions, detailing a professional opinion of the property’s value so as to determine the amount of CPF withdrawal and bank financing.
Variable Interest Rate
Variable-rate also known as the floating rate is where the interest rates are constantly changing and financial institutions are guided by the Singapore Inter-Bank Offer Rate (SIBOR) to determine the rate to charge for their loans.
