Asked by Anonymous
I'm selling off my EA at 600k and downgrade to a 5-room at 520k. I'm planning to take a bank loan to settle my first payment (5% cash and 15% CPF) on my 5-room flat.
What type of loan am I able to take up so that once my EA is sold and the amount is refunded back to my Ord account (likely with some cash from sales proceed), I will be able to clear off everything for the 5-room flat using that refunded amount? This is to reduce any interest incur.
Am I suppose to look into the least no. of years from bank loan on the lock-in period?
Thank you.
What type of loan am I able to take up so that once my EA is sold and the amount is refunded back to my Ord account (likely with some cash from sales proceed), I will be able to clear off everything for the 5-room flat using that refunded amount? This is to reduce any interest incur.
Am I suppose to look into the least no. of years from bank loan on the lock-in period?
Thank you.
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