i’m taking 80% of the cost from bank loan. can the 5% component be included in my loan? estimated 5% is about $10k. if cannot be included in the bank loan, where to get $10k cash for the down payment? take another separate loan?
i’m taking 80% of the cost from bank loan. can the 5% component be included in my loan? estimated 5% is about $10k. if cannot be included in the bank loan, where to get $10k cash for the down payment? take another separate loan?
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if you take out a seperate loan you may not qualify for the mortgage because you owe too much, you need to ask the real estate dealer or bank how to go about it.
yea you need to pay 5% in cash, don’t think the same bank allow u to borrow another 5% as you are already getting 80% from same bank..
If you are buying a HDB flat, why take up a Bank loan? Bank are making tons of monies from housing loan due to Singapore Government policy changed. If you are eligible (1st timer & 2nd timer for upgrade) to take HDB loan, no matter what, you should go for it. Current HDB loan interest is 2.6% per annual, compare to Banks of 5% and they may adjust any time. Taking HDB loan, you can use your CPF to pay for the downpayment.