hdb home loan refinancing
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which bank offer the best rate in a sense if it's floating-rate year. the rate revised not too much different.
anyone has anything in mind? preferably for those who already have the loan with the bank -
You intend to pay finish the home loan in 5 years? AFAIK those banks usually offer very low rates only for first few years after which it will follow market rate which will definitely be higher than CPF 2.6%
One way is to after first few years switch to another bank like refinancing but there are a lot of catches involved too. Last time got one poster post in here KPKB say only 1 year the next year jack up rate so he buay song wanna switch.
So before take up those packages from bank consider the terms first carefully. Wanna avoid stress your brain opt for gahmen CPF. Short and simple
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to refinance for another 10 yrs. so which bank?
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to refinance for another 10 yrs. so which bank?
10 yrs may as well go for CPF more stable rate throughout so no heart attack. You CPF got money? Or you is work earn money but no CPF kind? -
Originally posted by sohguanh:
wat? can go take loan from cpf? i tot can only take loan from the bank. then use cpf to make monthly repayment. my cpf having enuf fund
[b]to refinance for another 10 yrs. so which bank?
10 yrs may as well go for CPF more stable rate throughout so no heart attack. You CPF got money? Or you is work earn money but no CPF kind? [/b] -
wat? can go take loan from cpf? i tot can only take loan from the bank. then use cpf to make monthly repayment. my cpf having enuf fund
Err... the exact details is to PM Homebody a poster who is doing sell flat job. He could have better answer.
For me it is when go HDB they deduct everything in your CPF for the downpayment. Then they will count you owe them how much remaining and then you wanna pay how many years. Then they work out each month you need to pay how much so HDB can deduct that amount from your CPF. So all along no cash is paid (except for some admin fees, evaluation fees etc etc) just deduct from your CPF if you have which is dead money anyway since you cannot withdraw it except for buy house, invest and children education, medical.
It is best you check with CPF. Sorry cannot help you much. -
i thnk u can only take loan from HDB if u are purchasing HDB flats. If it's condo or pte property u have to loan from banks.Originally posted by plump:wat? can go take loan from cpf? i tot can only take loan from the bank. then use cpf to make monthly repayment. my cpf having enuf fund
Not sure whether I am right on this...do check. -
Correct, for hdb flat its like cpf all the way, I think the most you fork out in real cash is like 5%.
