AskGuru Q&A Community

Hi,

HDB loan offers max 90% loan, whereas banks offer max 80% and a 5% cash component is requured. There are also Buyers who prefer a fixed 2.6% rate for hdb loan rather than refinancing every 2-3 years for varying bank rates.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews/
(Client's Testimonials) Read More

Hi, because for HDB loan, one does not need to fork out much cash.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Morning,

HDB loan provide max of 90% loan and the down payment of 10% can be made via CPF. The interest rate is pegged to CPF rate hence it's likely flat throughout the loan period.
As for bank loan, the max loan is 80% where 5% down payment must be made with cash while the balance 15% can be made using CPF and/or cash. Bank interest rate fluctuates with the market movement. In the cash of late or arrear payment, the bank does have the right to force sales the unit.

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

Hi,

For HDB, the cash component to fork out is much lesser than the bank loan. HDB offer 90% max loan (depend on situation too) and the remaining 10% can be paid by CPF. The only cash is $5000 during the offer stage.

For bank loan, buyer can only loan up to 80% and will need to pay 5% of the buying price in cash. The remaining of the 15% can be paid by CPF.

There are of course other concern like the interest rate, pay back method etc.

It will be good if you can give me a text at 96921366  for further discussion.

Thanks.

Yours sincerely
Isabella Teo
Marketing Director from ERA
MBA (Master), Hon in Elec Engineering, RES Cert

email: isabellateo.property@gmail.com
wechat: Isabellateo
mobile: +65 96921366  Read More