Hi Stephen,
HDB loan is only applicable for HDB purchase, whereas Bank Loan can be for both HDB and private properties.
HDB Loan, you can loan up to max 90% of the purchase price (or valuation price, whichever is higher). Downpayment in this case is 10% (less deposit), and can be paid from CPF-OA.
For Bank Loan, max loan is 80%, out of which 5% of the 20% downpayment must be in form of cash. The balance 15% can be from CPF-OA.
Interest rates wise, Bank Loan is now more attractive at below 2%, whereas HDB Loan is set at 2.6% currently.
Should you need any further assistance in matters relating to property, please contact me at my mobile
9748 6305
. I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty
Read More