Hi,
If I have an existing commercial property loan (I am not the owner of the property), will HDB still grant me 100% of the HDB loan? I have intention to get a DBSS flat.
Thanks!
Jas
Posted by Jas on Oct 30, 2011 in Home Financing | 128 Views
Latest Answers by Real Estate Professionals (3 Answers)
Answer Posted on Oct 31, 2011
Morning Jas,
Under the current ruling, your HDB purchase will have to be through Bank loan as you currently have a mortgage loan under your name.
It would be tough to appeal the case, but even if it goes through, you might not be getting 90% loan and it will be at market interest rate, instead of normal interest rate.
FIY
Mike Lim
96929209
ERA
Under the current ruling, your HDB purchase will have to be through Bank loan as you currently have a mortgage loan under your name.
It would be tough to appeal the case, but even if it goes through, you might not be getting 90% loan and it will be at market interest rate, instead of normal interest rate.
FIY
Mike Lim
96929209
ERA
Answer Posted on Oct 30, 2011
Hi,
When you have a past bank loan, you are usually not allowed for HDB loan of 90%. You can however appeal to HDB and they will review it on a case by case basis. By 100% i am assuming that are taking into account the 10% cpf that you will use for your HDB loan.
Ken Tan
96461490
Huttons
more info, go to www.96461490.com
When you have a past bank loan, you are usually not allowed for HDB loan of 90%. You can however appeal to HDB and they will review it on a case by case basis. By 100% i am assuming that are taking into account the 10% cpf that you will use for your HDB loan.
Ken Tan
96461490
Huttons
more info, go to www.96461490.com
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