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I jus bought an EC with my finance which will TOP in Early 2015 and took a 80% bank loan. Currently im staying with my parents in a rented flat because my dad cant afford to buy an hdb. My question is, if my dad has 200k cash and which is not enough to buy an hdb, can i help him take a loan or be his gurantor if he wants to get a 400k HDB FLAT?
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1 Answer

Mike Lim
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Evening Eugenio,

As for your particular enquiry, it would be dependent on your parent's age and income status. It would also depend on bank's assess on your income status. If it's approved, the installment would have to be paid by cash, from your part, as usage of CPF by non-owner of HDB unit is not allowed, unless under special conditions.

Regards
Mike Lim
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