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Hi Gurus, what happen if I use the HDB loan first for the benefit of paying 10% downpayment and straight afterwards change to bank loan while still having a 80+% loan left ,

because from my knowledge bank loan can only borrow up to 75% of the loan?

so what happen to the remaining 10ish% ,

do I pay the HDB the excess remaining?


is this possible and what fees would i incur by doing this ?
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6 Answers

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

Regards
Aaron Chong
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Hi,

Yes you have to top up the funds to redeem the difference in the loan amounts before the bank will disburse your home loan. Not sure if there's any benefit in using such an approach versus going straight to taking a bank loan.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Hi, I propose you to check with a banker before proceeding, and I am able to share their number to check base on your current situation. Stewart-PropNex 9696 4398  Read More
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YT Tan (陈永达)
Good morning,

you have to pay the difference between existing HDB loan amount and bank loan amount in cash and/ or cpf.

Need to pay valuation fee and private legal fees.

If you are able to come out with the downpayment for taking up bank loan at the first place, probably its better to do so at the start. If not you gonna incur another round of valuation and legal fees.

Hope my sharing aids in clearing your doubts.

May I know how can I value add further in your property needs?

#staysafe

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OHMYHOME PTE LTD
Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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OHMYHOME PTE LTD
Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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