For folks who have the ability to safer an excellent lender rate and want when planning on taking advantage of they for some years, do it. If you don’t, i t’s as well as you can easily first off the new HDB loan and you will refinance with a bank later on when prices raise.
If you’re to buy a done HDB apartment (we.elizabeth. resale) – or if perhaps you might be refinancing for the freshly-created BTO, maybe – then you’ve got much more possibilities.
Depending on your income, it is possible to otherwise is almost certainly not qualified to receive the newest HDB mortgage when you purchase an HDB selling apartment.
In the event you meet the requirements, brand new HDB loan is often a good choice since it requires a smaller sized advance payment and is more versatile – you might mortgage lower amounts, such as for instance, and make partial or over installment very early without any penalty. Continue reading “Mortgage brokers to possess HDB resale / founded BTO – HDB loan versus bank loan”