View Full Version : 0% of low downpayment bank housing loans

24th July 2009, 05:03 PM

I am a late twenties individual, with monthly income over $3000 and no bad credit history at all. I am looking into buying property that is less than 750k, and maybe monthly installment of $1000+rental income.

Can I check with you if there are any housing loans that requires 0 or low downpayment loans? If so, what are the rates, term and conditions and tenure?


24th July 2009, 07:31 PM
MAS does not allow mortgage lenders to give 100% housing loans. The maximum percentage is 90%. If you want to loan 100%, you can consider borrowing the 10% from multiple personal credit lines but the interest is high and it may still not be enough as unsecured personal loans are normally 2 to 3times your monthly income.

20th May 2010, 02:06 PM
but what are the chances or factors that the bank will consider in giving even up to 90% loan. taking for eg leotan's case, where he does not has bad credit which is definitely an important factor but what other considering factors.

20th May 2010, 02:15 PM
I'm afraid 90% financing is no longer possible since a few months back. The government has now capped property financing at 80%.

20th May 2010, 05:19 PM
yar but even so bank will not loan you to the maximum as well right? again what are the considering factors to determine the percentage of loan.

lion needs $$$$$$...

21st May 2010, 11:33 AM
In layman terms, the younger you are, the more money you make and the less monthly instalments you have, the higher the chances of obtaining the maximum loan.

You may want to check out this nifty calculator from my housing loan http://www.myhousingloan.com.sg/housing-loan-purchase-calculator.php - it will be able to let you know how much you can loan max :)

21st May 2010, 02:36 PM
there is a current installment there, what kind of installment does that refers to? car? personal loans etc? or only apply to home loans.

21st May 2010, 02:43 PM
I believe it's referring to total monthly instalment for all the various loans.

26th May 2010, 08:18 AM
is there any loan that one can take for the downpayment BTO flat?

lion is just kapoing.....