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Hi,

my wife and I have outstanding HDB loan of 150K. We split the payment in half. If after MOP, if I lump sum pay off my half of the loan i.e. 75K, am I eligible to get a 80% loan for a private condo in my name only? While my wife continues to service her half of the loan?
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4 Answers

Hi,

The answer is no as you will still be regarded as having an outstanding loan, thus your private property loan will not be 80%. You may want to consider paying the hdb loan down fully first. Thanks and hope to assist further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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Afternoon,

The mortgage loan that both of you are servicing is based on joint names. As long as the entire mortgage is not paid off, both of you will be considered as having one mortgage loan under your name.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

Unfortunately, you will still be liable for an outstanding loan.
In your case, you will need to engage a professional to run you through all your financial matters and to advise the next course of action. The complex nature may overwhelm you.

For assistance, do contact me.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
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Hi Jun,
The max 2nd property loan quantum is 50%, 7% ABSD is still payable too. Please drop me an email for me to assist and advise you more option for consideration.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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