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Hi, just want to clear my doubt regarding home loan.

If I've get a home loan of $450,000 from a bank to buy a EC. After I sold my current HDB, I do a partial redemption using a total of $250,000 from the CPF refunded and cash proceed.

My question will be, does the bank shorten the max loan period but the monthly repayment amount remain unchange??

Or

The monthly repayment will decrease but the max repayment period remain unchange.

Which way does the bank works??
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4 Answers

YT Tan (陈永达)
Replied
Good morning EC upgrader,

Normally if you do a partial redemption during a lock in period, the monthly repayment will decrease while repayment period remains the same. But you will have the option to refinance to a shorter repayment period after the lock in period.

I can get my banker (the best person) to advise you on this.

Which new EC are you thinking of applying?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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Geryl Lim
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Dear sir/madam,

I believe YT has given you a good summary of the possible scenarios for partial redemption, however, if you are comfortable with the loan repayment amount as of current, would it be more sensible to utilise the cash proceeds for other forms of investment to grow your wealth instead? Perhaps investment into a small commercial property which can generate decent rental returns will be a more attractive option?

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Able S.K Toh
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Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856 9255  , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ 房地产经纪（董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh,房地产经纪（董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
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