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Thread: Housing loan

  1. #1
    Join Date
    Aug 2008
    Posts
    99

    Default Housing loan

    What is the maximum housing loan one can get for their first property purchase?
    How about second property ? I heard for second property cannot get more than 60%, is that true?

  2. #2
    Join Date
    Sep 2009
    Posts
    170

    Default

    Maximum is 80% for first property and 60% for subsequent ones!

  3. #3
    Join Date
    Jan 2007
    Posts
    181

    Default

    What about 90% financing? Is it no longer available?

  4. #4
    Join Date
    Feb 2008
    Posts
    393

    Default

    Yes, 90% financing is no longer available.

  5. #5
    Join Date
    Jan 2007
    Posts
    106

    Default

    Yeap, 90% financing is no longer available with the retail mortgage lenders. But for those who are buying HDB and taking up HDB loan, you can still get 90% loan from HDB, if you do not have much CPF.

  6. #6
    Join Date
    Jul 2012
    Posts
    17

    Default

    A loan is a type of debt. Its provides an incentive for the lender to engage in the loan. Housing loan are taken by borrowers to finance the purchase of properties either for lodging or investment purposes.

  7. #7

    Default

    I have also heard about things like the amount of loan may vary according to the income levels. I am not very much sure about the rule now.
    Last edited by AbilioLeonardo; 21st October 2013 at 12:21 PM.

  8. #8
    Join Date
    Feb 2008
    Posts
    393

    Default

    The amount of loan one can take depends on his/ her income.

    Debt servicing ratio - is what the bank use to calculate on how much loan one can qualify. You may like to read this article that clearly explains this.


    http://www.cpf.gov.sg/imsavvy/blog_p...456-1171380877

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