AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
we are intersted in buying hdb 4 rooms flat. Example selling S380,000. Both me and my husband combined CPF is abt $200,00. Our combine income $3700.00 p/mth. Both of our age is 48.We are not entitle for hdb loan.We are advise to take bank loan instead.Can we get a 100% loan fm the bank without having any cash involve.We would like to concentrate paying using our cpf a/c for the bank loan.
0 •
433 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

William Choo
Replied
Hi. You can't take a 100% loan because government regulations only allow banks to loan up to 80% for the first property. Given the income you stated above, chances are high that you will end up servicing your mortgage installments using cash too; your total monthly CPF OA account contribution are unlikely to pay for the mortgage installments in full.

Cheers. Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions