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May I know how does outstanding debt affect Bank HDB loan?
I have around 90k in total debt across different banks. Will that adversely affect my loan rate? Will it even make it difficult for me to secure a loan?
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2 Answers

Mike Lim
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Evening Pat,

With your current outstanding loan standing at $90k, it's would be extremely difficult for any financial institute to approve you additional loan unless you are earning $200k plus per month. If the liability outweigh the income status, this shows that the chance of repayment default is higher. Thus would anyone dare to take such risk?

FYI
Mike Lim
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Catherine PANG
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