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Thread: refinancing home loan

  1. #1
    Join Date
    Jan 2008
    Posts
    560

    Default refinancing home loan

    is it wise to re-finance a home loan?

  2. #2
    Join Date
    Jan 2007
    Posts
    106

    Default

    The answer to this question really depends on the sort of loan you are on right now

  3. #3
    Join Date
    Jan 2008
    Posts
    560

    Default

    does it make senses if the house is fully paid and we want to take a loan so that $ can be put back into my dad's CPF and i continue to finance the house

  4. #4
    Join Date
    Jan 2007
    Posts
    106

    Default

    I'm afraid when you take up a fresh home loan on a fully paid-up private property, you cannot use cash from the loan to return into your dad's CPF account.

  5. #5
    Join Date
    Jan 2008
    Posts
    560

    Default

    how abt HDB?

  6. #6
    Join Date
    Oct 2011
    Location
    US
    Posts
    6

    Default

    Quote Originally Posted by cookies View Post
    how abt HDB?
    What do you want to know about HDB??
    Can you please explain it clearly so that I'll come to know about it..!!

  7. #7
    Join Date
    Jan 2008
    Posts
    560

    Default

    i am saying that my dad's 3rm hdb is fully paid. i'm thinking to buy over the flat from him so he would have more money in his CPF for retirement while i finance the flat.

  8. #8
    Join Date
    Jan 2007
    Posts
    106

    Default

    It's one step further for HDB. You cannot take a fresh loan on a fully paid up HDB.

  9. #9
    Join Date
    Jan 2008
    Posts
    560

    Default

    ok understand, nvm

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