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I am undischarged bankruptcy. Took HDB concession loan twice. Unable to obtain housing loan due to my status. Is it possible for my wife to obtain loan from bank on her own. She is drawing a gross income of $3300.
Currently own 4 rooms HDB flat in pasir ris and look for a similar flat in Bukit Panjang. If we were to sell our current flat we need to loan $150K from the bank.
Also what is the procedure to loan from Bank. What is the initial downpayment amount (cash or cpf)
Pls advice.
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2 Answers

Angela Chua 蔡斯淇
Replied
Hi Mr Tan,

For bank loan, the downpayment is 5% cash and 15% CPF.

I have done similar cases like yours. Feel free to contact me for further discussion.

Thank you.

Angela Chua
Propnex Realty Pte Ltd
H/P: 9323 3330  Read More
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Mike Lim
Replied
Afternoon,

Both applicant's income status will be taken into consideration during the loan application. Given your spouse current income, getting a mortgage loan approval of $180k should not be an issue. This is provided that her credit standing is good and clean. Do note that with bank loan, 5% cash and 15% CPF downpayment is required. Alternatively, you can apply for HDB market rate loan, subjected to approval.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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