Majority of the home buyers get struck off when it comes to mortgage loans. Lack of knowledge about mortgage loan is the main cause for it.

Do you know, around 42% of the population in Singapore are foreigners. According to Savills Singapore, foreigner purchases accounted for around 25% of the total residential property sales transaction in Singapore during the first half of 2010.

As I write this article, the SIBOR rates in Singapore are at an all time low. This means that many Singaporeans especially the young middle class are buying expensive properties because the current low mortgage rates allow them to afford a huge loan amount.

Singapore has relatively high-cost operating environment but still a larger number of people are taking up permanent residence in Singapore due to its emerging opportunities in different sectors.

According to a survey report, nearly 30% foreigners in Singapore take up permanent residence. This statistics is increasing rapidly due to this country’s favorable condition for starting new businesses. Why this country is getting more and more traffic day-by-day? Its captivating attractions, favorable warm tropical and sunny climate and most importantly its economy which is climbing pretty fast due to large number of foreigner’s investments are the secrets behind its increasing traffic. As per 2010 economy statistics, Singapore has the fastest growing economy in the world with a growth rate of 17.9%.

You can right now crunch the numbers all by yourself with the aid of the best home loan calculator to reckon how much loan you are capable of borrowing and project accordingly. There are so many calculators out there and it could be very bewildering to choose the one which suits your situation.

According to 2005 Singapore population statistics, out of a total population of 4,351,400, non-resident population was around 797,900. It is estimated that out of 10 persons working in Singapore, six were Singapore citizens, one was permanent resident and the remaining three were foreigners. In 2005, there were nearly 9.7% permanent resident in this country.