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Hi sicbo333,

To be honest, there is no perfect or correct solution in this situation, but rather which is more comfortable or suitable for you.

To refinance or to outright take another 60% loan from the bank has pros and cons. Taking into consideration of the low interest rates now, it is feasible to refinance for a fact that with more cash on hand, your variety or choice of property will get bigger, nevertheless, it is important also not to overstretch you finances for the investment.

As for loan eligibility, it is likely that as long as you are holding on to an employment with evidence of income, it should not be a problem, but to be on the safe side, approach a bank proper to find out more.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More

Dear Investor,

You may want to consider buying Japan properties instead.

http://www.propertyguru.com.sg/property-management-news/2016/11/140325/japan-s-property-market-powering-ahead

Mostly freehold, better yield than Singapore.

NO ABSD, no restriction even on buying land.

Prices start from SGD 350'000
Most properties can get financing of up to 65%

Full property management.

GIC, CDL and many Singapore firms are buying Japan.
You can just google and find out

Contact us if you are keen

www.hjrealestate.com.sg Read More