Asked by Anonymous
Recently got a queue no. to select a 2nd hdb bto unit. I would like to understand on the loan portion as this 2nd hdb bto unit(completion in 6 yrs time) is only under wife as main applicant and myself occupier .
1st hdb dbss (got From developer are wife and myself as main applicants and sharing the loan).
*Background*
Current owner tenancy in common for a 5rm Hdb dbss (1st timer), met MOP
-outstanding dbs bank loan 260k (between wife and myself)
-Estimate resale price - 650k
-age 42
- cpfoa of wife 80k
-cpfoa for myself -100k
-wife pay mthly 5k
Concern here is that my wife will not be able to get enough bank loan for the 2nd hdb bto unit.not sure if hdb allows us to continue with the unit selection if we can’t secure this but we are actually able to pay the differences using cash for the shortfall .
Not sure what are our options here and do we need to have the loan secured before signing the lease agreement? Can we contra the loan that needs to be taken from the sale of current hdb when the bto is completed in about 6 yrs time?
1st hdb dbss (got From developer are wife and myself as main applicants and sharing the loan).
*Background*
Current owner tenancy in common for a 5rm Hdb dbss (1st timer), met MOP
-outstanding dbs bank loan 260k (between wife and myself)
-Estimate resale price - 650k
-age 42
- cpfoa of wife 80k
-cpfoa for myself -100k
-wife pay mthly 5k
Concern here is that my wife will not be able to get enough bank loan for the 2nd hdb bto unit.not sure if hdb allows us to continue with the unit selection if we can’t secure this but we are actually able to pay the differences using cash for the shortfall .
Not sure what are our options here and do we need to have the loan secured before signing the lease agreement? Can we contra the loan that needs to be taken from the sale of current hdb when the bto is completed in about 6 yrs time?
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