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My fiancee and I are intending to purchase a resale HDB. We are looking at taking a bank loan. For the bank loan, must it be under both our names or can it be just under one person's name? How will this affect the repayment? e.g., Can CPF be used for repayment, and if the loan is under one name, can we both use our CPF to repay the loan?
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2 Answers

Aaron Chong
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Hi, it be better if both of you apply together and yes cpf can be used for the monthly repayment, and it can be used to deduct from both of your account. Regards Aaron 9730 8455  aaronchong2774@yahoo.com.sg Read More
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  • BC
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    Hi, why is joint application better? If applied by 1, can both repay with CPF? Thanks.
Mike Lim
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Morning, If you intention is to utilize both CPF, you will need to have both names for the mortgage loan. It is possible to have mortgage loan under one name, but the credit assessment will be calculated based on both of your income status and credit record. The loan amount will definitely be lower. Do feel free to contact me for further discussion. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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