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Hi there just wanted to ask regarding financing. Heard from my friend that eg i got a current housing loan for my HDB, its possible to refinance the loan and get an even higher amount then can use the amount to buy another property? Or at least the downpayment is that true?
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3 Answers

Hi,

Unfortunately no for hdb you can't apply term loan or equity loan to unlock equity. The only way is to sell off the property to unlock the proceeds.

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.

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Ivan Ng Realtor ASAP
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Robbie Chen Chee Howe
Hi,

I believe your friend is referring to private residential properties instead of HDB. Because it is not possible to do refinancing on HDB flats.

Also, if you were to take up a equity term loan from your current property, you will still be liable to pay ABSD, which is 12% for Singaporean buying their second property. I believe there are other more feasible options which you may want to explore and consider?

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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YT Tan (陈永达)
Good evening,

Do let me help you out on this.

You are not able to take up equity term loan from a HDB, this usually applies to private property.

It's fantastic to have the idea to own two properties but do you know you will be hit by at least 12% ABSD, only able to loan up to 45% bank loan and restricted on CPF usage if you own a second property now?

If I am able to assist you to own two properties without being hit by the cooling measures, will you be keen to find out more?

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