3 Answers

YT Tan (陈永达)
Good morning Grace,

You are eligible to apply HDB loan with your spouse. Each household are entitled to enjoy HDB loan twice.

But you might want to consider taking up bank loan as the interest rate is lower compared to HDB's 2.6%. Having say that, the downpayment is 20% compared to HDB's 10%.

Hope my sharing is beneficial to your property purchase.

May I know how can I continue to value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

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  • GC
    Hi, Thank you for answering my query. When I called HDB to enquire, I was told that I only need to pay the levy instead of the 50% cash proceeds.

    In any case, if a HDB loan is not applicable, we will have tom opt for a bank loan.

    We have a tight budget of not more than 300K for a resale flat in Tampines & Pasir Ris Area.

    Will you be able to help?

Yes you are eligible as each household is entitled to 2 hdb loans per lifetime. For bank loan, interest rates will be lower but you have to refinance every 2-3 years. For hdb loan its relatively more stable and pegged at 2.6% for a long period. Please note that the downpayment will be 10% (can use full cpf) for hdb loan, and 20% (cash+cpf) for bank loan. You also need to be earning 12k and below for gross monthly household income to qualify for hdb loan.

Thanks and hope to value-add to your plans further.

Warm Regards,
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Hi Grace,

I'd suggest that you take up a bank loan; should you take up a HDB loan, you'd need to pay back up to 50% of the cash proceeds that you received from the sale of your previous flat.

I can introduce a banker to you, to assess your loan eligibility for free, before you make any further commitments.

Feel free to contact me at your convenience, and I'd also be able to do an in-depth financial plan for you.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More