If you are taking an HDB loan, the 25% downpayment is in cash and/or CPF. The remaining 75% will be your mortgage payment over 25 years with an interest rate of 2.6%.
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If you can only loan up to 75% of the purchase price, the remainder including stamp duty will have to be paid in cash or CPF.
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1) When you know from the HDB that you could only loan up to 75%, it means your down payment will be 25% instead of 10%.
2) We are saying the "max" loan is 90% LTV means the maximum is 90% but can be lower.
3) Thus you have to pay all 25% down payments 3~5 weeks before the completion date provided by the HDB.
4) You can only pay the monthly installment to service the 75% loan from the HDB.
5) Beware that there is a buyer stamp duty of ~3% and legal fees to settle in this purchase.
6) Since this is a "really" old resale HDB, I would suggest you check on the CPF web to see how much CPF you can utilize for this purchase.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: email@example.com if more information is needed.
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