Asked by Ms. Lizawati Md. Ta'at
I am currently residing in a 3-room HDB flat in Eunos with my parents. I am looking to buy a 3 or 4 room flat and bring them with me to stay in the future. Presently, I am 30 yrs old and am single. I am the co-owner of the current flat and used $39K of my CPF to pay off the current flat. The flat is fully paid for as of 2011. My parents have exhausted HDB's home loan eligibility as they have taken HDB loan twice. I have never taken a HDB loan.
1. I am interested in purchasing a new/BTO flat in the future & intend to bring my parents to stay with me. Minimum is a 3 or 4 room flat. As far as I know, if I want to purchase it i can BUT i have to take a bank loan as our family is considered a family nucleus thus i am not applicable for a HDB loan. And if i remain single. Correct??
2. What are the real risks of taking a bank loan as compared to a HDB loan?
3. Can I consider to take my name out from the ownership so that I can take HDB loan in the future? Whats the costs?
1. I am interested in purchasing a new/BTO flat in the future & intend to bring my parents to stay with me. Minimum is a 3 or 4 room flat. As far as I know, if I want to purchase it i can BUT i have to take a bank loan as our family is considered a family nucleus thus i am not applicable for a HDB loan. And if i remain single. Correct??
2. What are the real risks of taking a bank loan as compared to a HDB loan?
3. Can I consider to take my name out from the ownership so that I can take HDB loan in the future? Whats the costs?
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