Hi, as mentioned above, I looking to selling my 4room at 400k, n intend to buy another resale 4A or 5room, am intending to get 2nd loan Frm Hdb cos am still eligible, my question are , my outstanding loan owning to Hdb is 120k, my spouse salary abt 2k.. N I temporary looking after my bb... So as for myself I have no income.. Btw wats e cash proceeds if I will to buy a 450k including cov of another resale.. Any1 know how to calculate n how much I needed to loan Frm Hdb if I buying a 450k 5rm flat.. Thanks!

which area selling resale 5m at 450K?????

Hi, as mentioned above, I looking to selling my 4room at 400k, n intend to buy another resale 4A or 5room, am intending to get 2nd loan Frm Hdb cos am still eligible, my question are , my outstanding loan owning to Hdb is 120k, my spouse salary abt 2k.. N I temporary looking after my bb... So as for myself I have no income.. Btw wats e cash proceeds if I will to buy a 450k including cov of another resale.. Any1 know how to calculate n how much I needed to loan Frm Hdb if I buying a 450k 5rm flat.. Thanks!

You can apply for HLE (HDB Loan Eligiblity) to determine how much you can loan.

which area selling resale 5rm at 450K?????

Woodlands, Jurong West....

Yep, is at jr west, Cck some area also have, but more than 20yrs flat .. To each individual liking.. Still deciding whether to go for bank for Hdb loan?? Any advises, bank Loan interest is much lower than Hdb, do they have their pros n cons?? Would like to hear feedback n advises Frm e forumers.. Tks

Yep, is at jr west, Cck some area also have, but more than 20yrs flat .. To each individual liking.. Still deciding whether to go for bank for Hdb loan?? Any advises, bank Loan interest is much lower than Hdb, do they have their pros n cons?? Would like to hear feedback n advises Frm e forumers.. Tks

Well, bank offer lower loans mean they have first charged to your flat if you owe the payments. You cannot switch to HDB loan if you owe bank loans.

Bank is profit-oriented and can raise interest rate if it deems fit to do so.

Yes Kalimantan, very true of Wat u said, moreover if delay outstanding loan Frm bank loan, they will come knock doors n even??? Any1 or other fren of Urs encounter e worse scenario if few months never pay Hse instalments,, any1 can share if delay Frm instalments Hse monthly using bank loan??

Yep, is at jr west, Cck some area also have, but more than 20yrs flat .. To each individual liking.. Still deciding whether to go for bank for Hdb loan?? Any advises, bank Loan interest is much lower than Hdb, do they have their pros n cons?? Would like to hear feedback n advises Frm e forumers.. Tks

HDB Loan:

- can loan up to 90% of valuation

- pegged at CPF OA rate + 0.1, currently 2.6% (less likely to fluctuate)

- HDB not as strict as banks when it comes to delaying loan repayments, I personally handled a case where the seller owed HDB for quite a long period of time but still allowed to stay

(although eventually they did tell owner to sell or they will acquire back)

- lower legal fees

- CPF monies will be cleared for purchase

Bank Loan:

- can loan up to 80%

- fixed or floating rates (fixed usually for first 3-years only)

- current rates are lower than HDB loan, around 1.3%+/-, but note that it has gone up as high as 7-8% before

- Bank loan cannot owe too long, like Kalimantan said....its business orientated

- higher legal fees (though usually subsidized by bank)

- can decide how much to use from CPF account

Bank don't come and knock ur door.

Bank sent letters and letters.. then engage legal money collecter to knock ur door.

Everything not working.

Lawyer letter.. pay $ and sell ur house.

If you miss 1 installment.

Interest add in

HDB loan..

news also had shown.

HWZ has the same topic but it was 2 yrs old thread. But I believe.. more and less the pro and con should be the same..

http://forums.hardwa...an-2924755.html

Suddenly recall one case.

remember the famous lady who stay in ang mo house and flight with her neighbors for many many year... counter sue each other.

Even get MP to help .. also cannot settle.

Appear in newspaper, TV..

The lady miss the bank installment and BANK issue letter to take back her house to get back the $$ the lady own them.

Tks u guys for e good info!! Cheers....