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Be the Owner of Your Home: Get a In House Loan to Renovate Your House




Are you looking for an easy way to get the funds you need to in house renovation loan Singapore? If yes, this is the right place for you! Here, I am going to teach you how you can get an in-house approved loan amount for your renovation project without any hassle at all.

1. Introduction

First of all, let me tell you a secret: Not every homeowner in dire need of money for his home renovation works project can get a conventional in-house mortgage from his bank.

You see, banks have certain guidelines before they use to determine whether or not a person is financially qualified to get a home loan to cover. And unfortunately, many homeowners with great houses to renovate are not able to qualify for a conventional in-house mortgage because their “financials” are just not good enough.

But there’s no need to despair! As I said earlier, there is another option for those homeowners who can’t get a conventional in-house mortgage from their bank.

How much do home renovations cost?

Home renovations can range in cost from $20,000 to $70,000. It depends on factors such as the size of your house, the extent of work required, materials and the type of contractor you choose.


2. How To Get An In House Loan To Renovate Your House In Singapore

If you are looking for a legitimate way to finance your renovation projects in Singapore, then this is the most important message you will ever read. You see, there is currently a financial institution in Singapore that will consider giving you an in house loan to finance 100% of your renovation project… if… you can provide them with satisfactory evidence you will make a profit from your renovation project.

– Ask your real estate agent or check with your local Real Estate Board for a list of brokers who would be interested in loaning money at reasonable rates of interest to their clients who want to renovate their properties.

– Contact your bank and ask if they have any special programs for people who want to do home renovations. Many banks now have “home renovation loans” which let you borrow up to 70% of the cost of the work

– Contact your city hall for assistance with government programs

– If you have good credit history, you may be able to get an unsecured personal loan from your bank

– Ask your banker for an unsecured loan. Unsecured loans are easy to get and have very low interest rates. However, they have one big disadvantage: You have to pay back the loan without any guarantee or security. In other words, if you don’t pay back the loan, the bank can do nothing about it.

What Can You Use a Home Renovation Loan For?

A home renovation loan is great for a wide variety of things. Some of the more common uses are:

* Pay off your home mortgage

* Add on to your house (addition or a second story)

* Add a garage or other room(s)

* Make other improvements to your home

* Refinancing your current home loan into a lower interest rate mortgage

* Any other purpose you can think of that would improve the value of your home


3. What You Will Need To Apply For A Renovation Loan in Singapore?

  1. Your bank account
  2. A current statement of your last six months’ bank activity
  3. Copies of all current credit cards you use
  4. Copies of all current credit card bills
  5. Copies of all current bank accounts you have
  6. Copies of all current pay stubs for yourself or your employer
  7. Copies of all current leases and contracts you have / Employment Certificate
  8. Copies of all current deeds to your property
  9. Copies of all current brokerage statements from all your investment properties (if 


  1. Photo Identity proof
  2. Salary Slips / Income Proof
  3. Address proof


4. What The Process Is Like

  1. Make an offer on the house. (HINT: You can make this offer any time before your loan officer.)
  2. If they accept your offer, then you have just bought yourself some time. You now have about 7-10 days to do the following:
  3. Get your loan approved by the bank. (This is very likely to happen.)
  4. Get the renovation contractor you are going to use approved by the bank.


If you have bad credit or no credit at all, you can still qualify for a renovation loan. Bad credit doesn’t mean you are beyond all hope. Many people with “junk” credit can still achieve great things when they put their minds to it.

There are many different types of financing for home improvement projects. Not all of them are created equal. Some are very expensive and carry high interest rates.