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I am looking into buying a re-sale exec maisonette , what will be the loan options available and how much roughly will I have to fork out monthly ? Can I use my CPF to pay the loan if I have no HDB flat under my name ?
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1 Answer

Michael Loo
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Greetings Ben,

Your loan options include hdb or Bank loan.

HDB loan rate is pegged at 0.1% above the current CPF ordinary account interest which is currently 2.5%.

HDB Monthly installment payment for 100k pegged at 2.5% interest PA for 30 years is approx $358. So for 400k would be $358x4=$1432.

Bank loan interest varies with different banks and also whether you choose fixed rate or floating rate.

Bank monthly installment payment for 100k pegged at 1.5% interest PA for 30 years is approx $306. So for 400k would be $306x4=$1224.

Yes, you can use your CPF to pay for the housing loan.

Regards
Michael
CEA reg no: R000265A
Mobile: 8112 8516 
Email: kero2322@gmail.com
Remax ( Empire Property Group) Read More
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