Asked by Ms. Zahida Z
Hi,
I’m a 30-year old single, with gross salary of more than $4,000 per month. I currently own a 4-room HDB, with my parents as the essential occupiers. As my parents had taken HDB loan twice, I’m financing the flat via bank loan.
I’m keen on upgrading to a 5-room or EA, or even the possibility of getting a private property. Through my research, I find the following:
- since my parents have taken HDB loan twice and with them listed as my occupiers, I will not be eligible for HDB loan;
- since I have an outstanding bank loan, I will only be granted a loan of 50% of the purchase/valuation price
Hence, considering I do not have much cash in hand, I would like to know if it’s feasible for me to proceed on upgrading, which means I’ve to fork out 50% via my own pockets? Is there no way for me to be eligible for HDB loan? Thanks.
I’m a 30-year old single, with gross salary of more than $4,000 per month. I currently own a 4-room HDB, with my parents as the essential occupiers. As my parents had taken HDB loan twice, I’m financing the flat via bank loan.
I’m keen on upgrading to a 5-room or EA, or even the possibility of getting a private property. Through my research, I find the following:
- since my parents have taken HDB loan twice and with them listed as my occupiers, I will not be eligible for HDB loan;
- since I have an outstanding bank loan, I will only be granted a loan of 50% of the purchase/valuation price
Hence, considering I do not have much cash in hand, I would like to know if it’s feasible for me to proceed on upgrading, which means I’ve to fork out 50% via my own pockets? Is there no way for me to be eligible for HDB loan? Thanks.
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