Hdb Concessionary Loan

[vvix 0]

ic... thanks for all advices.

[babytan 0]

just saw the thread, would like to ask a "noob" questions (sorry cos 1st time selling house leh )

currently 1st time owner for a 4room flat, got the loan from HDB.

now selling off and intend to buy a 3room.

in this instance, can i get loan from HDB but NOT getting the usual concessionary rate = abt 2.6%

the normal rates just like bank = 3.7+%

cos i understand is that we can only get HDB concessionary loan rate only twice..

so now i get the "normal" loan from HDB, then infuture when i upgrade, then i utilised the 2nd time loan?

thanks in advance =)

[tweetie76 0]

just saw the thread, would like to ask a "noob" questions (sorry cos 1st time selling house leh )

currently 1st time owner for a 4room flat, got the loan from HDB.

now selling off and intend to buy a 3room.

in this instance, can i get loan from HDB but NOT getting the usual concessionary rate = abt 2.6%

the normal rates just like bank = 3.7+%

cos i understand is that we can only get HDB concessionary loan rate only twice..

so now i get the "normal" loan from HDB, then infuture when i upgrade, then i utilised the 2nd time loan?

thanks in advance =)

hi babytan

i dun think you can get 2nd concessionary loan from HDB if you are downgrading, unless u are upgrading.

Even if u are 'upgrading' to 2nd NEW flat that is direct purchased from HDB, you will have to pay resale levy +5% interest per annum to HDB

[zirhk3355 1]

just saw the thread, would like to ask a "noob" questions (sorry cos 1st time selling house leh )

currently 1st time owner for a 4room flat, got the loan from HDB.

now selling off and intend to buy a 3room.

in this instance, can i get loan from HDB but NOT getting the usual concessionary rate = abt 2.6%

the normal rates just like bank = 3.7+%

cos i understand is that we can only get HDB concessionary loan rate only twice..

so now i get the "normal" loan from HDB, then infuture when i upgrade, then i utilised the 2nd time loan?

thanks in advance =)

No more "normal" loan from HDB; they had sub it out to private banks liao a few years ago.

HDB only has concessionary loans at 2.6%.

[tweetie76 0]

No more "normal" loan from HDB; they had sub it out to private banks liao a few years ago.

HDB only has concessionary loans at 2.6%.

Hi zirkh,

is there any age limit for HDB concessionary loan? Let's say if i buy my first flat at age 60, am i still entitle to the HDB concessionary loan ? & what is the tenure entitled?

[zirhk3355 1]

Hi zirkh,

is there any age limit for HDB concessionary loan? Let's say if i buy my first flat at age 60, am i still entitle to the HDB concessionary loan ? & what is the tenure entitled?

Yes, the maximum loan repayment period is 65 years minus your age or 30 years, whichever is shorter.

[tweetie76 0]

Yes, the maximum loan repayment period is 65 years minus your age or 30 years, whichever is shorter.

hi zirhk

that means my parents cannot buy flat liao..they nvr bot a flat in their entire life.. so they hv to stay with us forever Is there any other way that they can get loan ? even if we act as gurantor?

[zirhk3355 1]

hi zirhk

that means my parents cannot buy flat liao..they nvr bot a flat in their entire life.. so they hv to stay with us forever Is there any other way that they can get loan ? even if we act as gurantor?

On paper, I am afraid that its quite difficult for those age near-to/above 65.

However, you might want to try to write-in for special appeal or try bank loans instead...

[raincole 0]

I will think bank loan even harder to get.

[Phantom 1]

hi zirhk

that means my parents cannot buy flat liao..they nvr bot a flat in their entire life.. so they hv to stay with us forever Is there any other way that they can get loan ? even if we act as gurantor?

Can be done, with joint applicants. but if you have existing hdb loan then will not be able to.

at the same time, need to calculate debt service ratio against earning capacity.

[tweetie76 0]

Can be done, with joint applicants. but if you have existing hdb loan then will not be able to.

at the same time, need to calculate debt service ratio against earning capacity.

Hi phantom,

Joint applicant with who ? I am thinking of downgrading to smaller resale flat, therefore thot of getting a 2rm flat for them, but since they cannot get any loan,

is there any other way for them to get a flat? Can they used they RA funds in CPF ?

Can they rent from HDB ? Will HDB reject as one of the name is used in another flat as joint applicant when one of the flat owner deceased ..i am really stuck ..so miserable over this flat thing.. ..

Edited January 21, 2008 by tweetie76

[Phantom 1]

Hi phantom,

Joint applicant with who ? I am getting downgrading to smaller resale flat, thot of getting a 2rm flat for them, but since they cannot get any loan, is there any other way for them to get a flat?

Can they rent from HDB ? Will HDB reject as one of the name is used in another flat as joint applicant when one of the flat owner deceased ..i am really stuck ..so miserable over this flat thing.. ..

1) I presume joint applicant with you or anyone else. But you cannot hold 2 HDBs. so if you already have 1, you cannot joint with them to apply another one.

2) Possible to check with HDB for rental. On the other hand if one of the name is already existing in another flat then it is possible they could reject.

Why don't give HDB a call or go down to talk to a HDB officer to see what are your options?

[tweetie76 0]

1) I presume joint applicant with you or anyone else. But you cannot hold 2 HDBs. so if you already have 1, you cannot joint with them to apply another one.

2) Possible to check with HDB for rental. On the other hand if one of the name is already existing in another flat then it is possible they could reject.

Why don't give HDB a call or go down to talk to a HDB officer to see what are your options?

they are avoiding this house issue, every time say 'wait until free'

but it looks like they cannot buy lor, unless they use CASH, just not sure can they use their RA funds.

i have been thinking about this for past few yr for a solution, hahaa~~

[Phantom 1]

they are avoiding this house issue, every time say 'wait until free'

but it looks like they cannot buy lor, unless they use CASH, just not sure can they use their RA funds.

i have been thinking about this for past few yr for a solution, hahaa~~

In that case, its a difficult subject to broach, why not leave it for the time being.

=)

[zirhk3355 1]

they are avoiding this house issue, every time say 'wait until free'

but it looks like they cannot buy lor, unless they use CASH, just not sure can they use their RA funds.

i have been thinking about this for past few yr for a solution, hahaa~~

I believe in your case, your parents have to use cash then. BTW what is RA funds? You mean the SA, or CPF's special account?

Erm, sorry to ask this, but are your parents keen stay on their own in the first place? That is a sensitive issue to tackle, even if u can find a solution but the problem is they want to stay with you, its still no solution at all.