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Hanafi Zulkafle

Business Management at Singapore Management University

09 Jan 2024

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How does Credit Score affect housing loans?

Hi all,

I am not very well-versed in the topic of housing and property so I am pretty much clueless. I have friends who are already looking for BTO with their partners and I tend to join in the conversation when they talk about it just to listen. Just a question regarding this "credit score", does it apply if we are talking about HDB loans?

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Kasper Toh

03 Feb 2024

Yes, to put it briefly. When you apply for a home loan in Singapore, your credit history counts. Credit history is essentially a record of your payment habits that shows how likely you are to return a loan. It's a major component of credit score and one of the requirements that lenders look for when evaluating fresh loan applications.

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