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Can the COV be part of the housing loan? ie, if the house is $370000 & the seller wants a $30000 COV. So can I loan $400000 from the bank? Or I need to fork our the COV(for this case is $30000) in hard cash?

Kindly advice.
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2 Answers

Darren Lim
Replied
Dear Tan,

The COV portion cannot be part of the housing loan that you take from the bank. The bank will only loan you up to a maximum of 80% of the Valuation Price of the HDB flat. You will have to pay the COV in cash.

Please feel free to give me a call at 91443311  and I am sure I can assist you in planning your finances for your HDB purchase.

Thank you.

Darren Lim
Mobile: 91443311 
Email: darrenlim.era@gmail.com Read More
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Darren Lim
Replied
Dear Tan,

The COV portion cannot be part of the housing loan that you take from the bank. The bank will only loan you up to a maximum of 80% of the Valuation Price of the HDB flat. You will have to pay the COV in cash.

Please feel free to give me a call at 91443311  and I am sure I can assist you in planning your finances for your HDB purchase.

Thank you.

Darren Lim
Mobile: 91443311 
Email: darrenlim.era@gmail.com Read More
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