Asked by A
Hi,
I would like to seek advice regarding the down payment of buying a new flat.
My mother is going for flat selection for a new 4 room BTO flat in January 2012. She had borrowed from HDB for more than 2 times and hence, she is not eligible for HDB loan. She do not want to take up bank loan as she plan to sell the current flat once the new flat is coming in about year 2016. The problem that she is facing now is the 10% down payment whereby her CPF is insufficient and there are no bank loan packages for down payment. I thought of asking for a personal loan based on my salary but the bank can only loan up to 4 times of my monthly salary which is insufficient too. Hence, I would like to seek your professional advice on this problem that we are facing now. Thanks.
I would like to seek advice regarding the down payment of buying a new flat.
My mother is going for flat selection for a new 4 room BTO flat in January 2012. She had borrowed from HDB for more than 2 times and hence, she is not eligible for HDB loan. She do not want to take up bank loan as she plan to sell the current flat once the new flat is coming in about year 2016. The problem that she is facing now is the 10% down payment whereby her CPF is insufficient and there are no bank loan packages for down payment. I thought of asking for a personal loan based on my salary but the bank can only loan up to 4 times of my monthly salary which is insufficient too. Hence, I would like to seek your professional advice on this problem that we are facing now. Thanks.
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