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Home loan for a non-resident (currently) PR

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aaraar
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Home loan for a non-resident (currently) PR

Postby aaraar » Thu, 04 Sep 2014 12:03 am

Hello,

I am a PR , currently not in Singapore owing to my job and locationed outside Singapore. Parent company MNC with a large regional office here but I was hired outside of SG for this job

1. I wish to invest in property here and use my CPF money
2. I do not have a job here with income coming in
3. Do have decent downpayment cash

so will any Financial Institution and/or bank give me a loan?

thank you

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ecureilx
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Re: Home loan for a non-resident (currently) PR

Postby ecureilx » Thu, 04 Sep 2014 12:16 am

aaraar wrote:Hello,

I am a PR , currently not in Singapore owing to my job and locationed outside Singapore. Parent company MNC with a large regional office here but I was hired outside of SG for this job

1. I wish to invest in property here and use my CPF money
2. I do not have a job here with income coming in
3. Do have decent downpayment cash

so will any Financial Institution and/or bank give me a loan?

thank you


mmmm, if you are a PR, you aren't allowed to use CPF for HDB I think, per last revision

and for loan while you are not resident here ?

only financial institutions can answer but don't worry, next to insurance agents, financial institution advisors will try to sell you anything, including the Eiffel Tower ...

why not start with a property agent who can do most of the legwork for you, once you show interest in any property?

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zzm9980
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Postby zzm9980 » Thu, 04 Sep 2014 1:02 am

How new is that change? I know many PRs buying condos with CPF money in the past 1-2 years.

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ecureilx
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Postby ecureilx » Thu, 04 Sep 2014 9:27 am

zzm9980 wrote:How new is that change? I know many PRs buying condos with CPF money in the past 1-2 years.


sorry I think I mixed up HDB loan ....

you are right but the rules have been tightened for down payment.

anyway property agents know the nuts and bolts of financing, so its easier to look at a property and let the agent advice!!!

after all, its in their interest to know the details to ensure completion of sale

aaraar
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Postby aaraar » Thu, 04 Sep 2014 11:06 am

Want to buy a condo - not eligible for an HDB

can one use their CPF OA money?

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ecureilx
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Postby ecureilx » Thu, 04 Sep 2014 12:39 pm

aaraar wrote:Want to buy a condo - not eligible for an HDB

can one use their CPF OA money?


look it up in the CPF page, it is detailed there

as i said, pick a property and let the agent advice what limit you can use, and how much down payment you need to fork out and how much you can finance. easy that way


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