Asked by Francis
Hi, I am a PR. I purchased a HDB in 2006 May. I am intending to purchase a private property and retain my existing HDB property. Do I have to check with HDB regarding my eligibility for letting out my HDB before I buy the private property?
Since I have taken a housing loan for HDB house from a Bank, I understand that I can get only 60% loan for my 2nd property. Where as, if I pay off the existing HDB loan, I can get 80% loan. If the difference between 80% and 60% loan quantum is greater that my outstanding HDB loan, is there any way I can get bank to close the HDB loan with temperory overdraft against my FD that I have, so that I can get 80% loan as well as retain my FD ( which I can use to pay the required 20% that I need to pay in cash). Appreciate your advice.
Thanks
Francis
Since I have taken a housing loan for HDB house from a Bank, I understand that I can get only 60% loan for my 2nd property. Where as, if I pay off the existing HDB loan, I can get 80% loan. If the difference between 80% and 60% loan quantum is greater that my outstanding HDB loan, is there any way I can get bank to close the HDB loan with temperory overdraft against my FD that I have, so that I can get 80% loan as well as retain my FD ( which I can use to pay the required 20% that I need to pay in cash). Appreciate your advice.
Thanks
Francis
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