Asked by Mr. Chia Wah Lim
Hi, may I know what is the best choice to taking loan from HDB or bank?
631 views
1 Answer
Hi,
Main differences between HDB loan / Bank loan
1) hdb loan fixed rate at 2.6% vs bank loan rates vary but at about 1.5% now
2) hdb loan up to 90% of price vs bank loan only 80%. there are also some refinancing fees every 2-3 years involved for bank loan.
3) hdb loan income ceiling at 10k vs bank loan no income ceiling
4) hdb loan, well its loan from the statutory board, so they may not be so strict if things go awry. bank loan they may repossess your unit.
also once you take up bank loan for your unit, you cant go back to HDB loan. You can only take HDB loan twice. Thanks and hope it clarifies. May I assist you further with your housing needs?
Warm regards,
Ivan ERA
97432395
ivanng10@gmail.com Read More
Main differences between HDB loan / Bank loan
1) hdb loan fixed rate at 2.6% vs bank loan rates vary but at about 1.5% now
2) hdb loan up to 90% of price vs bank loan only 80%. there are also some refinancing fees every 2-3 years involved for bank loan.
3) hdb loan income ceiling at 10k vs bank loan no income ceiling
4) hdb loan, well its loan from the statutory board, so they may not be so strict if things go awry. bank loan they may repossess your unit.
also once you take up bank loan for your unit, you cant go back to HDB loan. You can only take HDB loan twice. Thanks and hope it clarifies. May I assist you further with your housing needs?
Warm regards,
Ivan ERA
97432395
ivanng10@gmail.com Read More
1