Asked by MSG
Hi, I have just completed the payment of the outstanding mortage on our 4-Rm HDB flat. Per all the fliers we get, the valuation is above $525K for apartments sold in this location.
I am now looking into buying a condominium but not looking to sell our HDB residence (prefer to use it to generate a rental income).
I am trying to understanding what are the financing options available to a potential buyer like myself in such a scenario? Is it possible to 'pledge' our HDB flat to offset the loan secured towards purchasing a condo? If so, can I still apply for a mortage loan based on my personal income to finance the purchase of a condo?
I am new to all this so would appreciate any advise that can enlighten me. Thanks!
I am now looking into buying a condominium but not looking to sell our HDB residence (prefer to use it to generate a rental income).
I am trying to understanding what are the financing options available to a potential buyer like myself in such a scenario? Is it possible to 'pledge' our HDB flat to offset the loan secured towards purchasing a condo? If so, can I still apply for a mortage loan based on my personal income to finance the purchase of a condo?
I am new to all this so would appreciate any advise that can enlighten me. Thanks!
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