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Conditions when you take the second HDB construction loan

If you would like capital to acquire and take along side possession of a flat, you may want to make an application for a property loan of HDB or the financial institutions (FI). Understand the key terms and factors towards various other loan possibilities before deciding.

Get an HDB Flat Qualification (HFE) letter via the HDB Flat Webpage for a holistic knowledge of the property and you can funding choices one which just continue your residence to find trip. It can reveal initial of qualifications to invest in a good brand new or selling flat, as well as the level of construction grants and you will HDB housing mortgage you’re eligible for.

Qualification criteria

* The new LTV restrict is the maximum quantity of casing mortgage a flat applicant may take up, expressed since the a percentage of one’s straight down of the apartment rate and value of your own apartment.

People who’ve kepted a new flat otherwise submitted a selling application will be given with a custom economic package, that’ll through the appropriate LTV restrict at part away from apartment app (if they are delivering an HDB housing mortgage), and the repayments requisite within some milestones of the flat buy.

And additionally conference the above mentioned qualification standards, the second HDB casing amount borrowed could be quicker of the complete CPF reimburse and an element of the bucks proceeds from the fresh new disposal* of your own after the residential properties, to market economic wisdom and prevents more than-borrowing:

  • Present otherwise last-had HDB flat; or
  • Last-possessed private residential property, disposed at the least 30 days ahead of the HFE letter application. (more…)

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