AskGuru Q&A Community

Hi Mdm,

If your HDB is owned jointly and is still under mortgage loan, your Husband will not be able to secure 80% loan from the Bank for your second property. The maximum he can loan will be 50% of the property purchase price (or valuation price). Do take note that ABSD applies too.

If your idea is to own 2 properties, 1 for own stay the other for rental, I may just have the right plan for you! You may be able to loan up to max 80% loan, and at the same time enjoy some savings in terms of ABSD is concerned.

Let's take this discussion further, do contact me via SMS/WhatsApp @ 97486305  .

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

To obtain 2nd property at max 80% financing, you have to fully pay up the current loan. It is determined by the number of outstanding loans you have, not how you pay it. Ie. If there's 1 outstanding mortgage loan per your case, the 2nd mortgage is at max 50%. ABSD of 7% is also applicable for 2nd property purchase by SC.

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)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More