For individuals who have the ability to secure a great financial rates and want when planning on taking advantage of they for a few decades, go for it. Or even, we t’s and additionally you can first off the HDB mortgage and you may re-finance that have a financial later on when prices increase.
If you find yourself to get a complete HDB flat (we.e. resale) – or if perhaps you might be refinancing to suit your newly-oriented BTO, possibly – then you’ve way more possibilities.
Based on your income, you can even or may possibly not be qualified to receive the newest HDB loan after you pick an enthusiastic HDB selling flat.
Should you choose be considered, brand new HDB mortgage can be the right choice whilst means an inferior downpayment which will be significantly more flexible – you can financing small amounts, eg, to make partial or over repayment very early without any penalty.
As for loans from banks, a done HDB flat and enables you to borrow under a fixed rate of interest (as well as the floating rates bundles we discussed above). Continue reading “Home loans to have HDB resale / created BTO – HDB financing versus financial loan”