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Good morning,

As your finances are not enough to fully paid a flat, you need to either take up a HDB or bank loan.

Difference between these two loans are the downpayment percentage and interest rates.

Downpayment: 10% (HDB) and 20% (bank).

If you don't want to fork out too much downpayment, you can opt for HDB loan and its 10% downpayment can be fully paid by CPF.

While if you want to take advantage of the low interest rates provided by banks, you can choose to take this. Just that downpayment will be 5% cash and 15% CPF.

Hope my explanation helps!

If you need any assistance in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Morning,

For HDB loan, your combined income should not exceed $10k. If both of you are first timer and either of you are SC, you can also apply for housing grant. However, the interest rate is at 2.6%.
For Bank loan, there is no income ceiling restriction but interest rate will fluctuate in accordance to market movement. Hence it will depends on your intention before deciding.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi, for me to advice and assist you to compute the estimated loan quantum, please drop me an email.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More