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Home Financing

Asked by Jas 30 Oct 2011

Hi,
If I have an existing commercial property loan (I am not the owner of the property), will HDB still grant me 100% of the HDB loan? I have intention to get a DBSS flat.
Thanks!
Jas

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William Koh · Answer 1 · 2011-10-30T13:18:48+08:00

William Koh

Replied 30 Oct 2011

Hi Jas,

The new regulation only allow max 80% loan.

Cheers,
William Koh
9027 1972
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williamkoh.st701property.com
www.myBedokResidences.com
www.ArcAtTampinesEC.com
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Ken Tan · Answer 2 · 2011-10-30T13:45:35+08:00

Ken Tan

Replied 30 Oct 2011

Hi,

When you have a past bank loan, you are usually not allowed for HDB loan of 90%. You can however appeal to HDB and they will review it on a case by case basis. By 100% i am assuming that are taking into account the 10% cpf that you will use for your HDB loan.

Ken Tan
96461490
Huttons

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Mike Lim · Answer 3 · 2011-10-31T09:17:15+08:00

Mike Lim

Replied 31 Oct 2011

Morning Jas,

Under the current ruling, your HDB purchase will have to be through Bank loan as you currently have a mortgage loan under your name.
It would be tough to appeal the case, but even if it goes through, you might not be getting 90% loan and it will be at market interest rate, instead of normal interest rate.

FIY
Mike Lim
96929209
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