So, I am in the process of buying a house, and the first screening at SMBC is still on going. We also already have a house that we like.
I've read SMBC's rates flyer but I want to get clarification on which rates I will most likely end up with.
Our plan is 0% downpayment, get a floating rate and we don't have Prestia Gold (I only have the normal SMBC Bank account but I think this is neither).
So most likely, I think I will end up with B plan – Basic Plan rates.
But for the special rates plan, even if you are not Prestia Gold, but for as long as you will loan 50m above, the interest rates will halve?
When I tried calculating that how much monthly payment I have to pay, I found it lower than getting a loan just a bit lower than 50m, so in this case, wouldn't it be better if I just loan at 50m instead?
We have a house in mind, but its cost is a bit lower than 50m, is it possible to raise its value by asking the builder to include several options, so we can avail of the lower rates beyond 50m?
Finally, is it also possible to ask the bank to raise the loan amount even after the 1st assessment?
Appreciate everyone's take on this!
Edit: i have mistaken SMBC with SMBC Prestia. Since I am loaning from SMBC, not from Prestia, this is not a case for me anymore… but hopefully, someone loaning from Prestia will see this and the suggestions in the comments.
by zer0tThhermo