Down payment

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zjules
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Down payment

Post by zjules » Wed, 15 Oct 2008 2:22 pm

Does anyone know if its possible to get a housing loan with only 10% dowm payment? I see that most say 10% cash + 10% CPF as a minimum, but as i dont have CPF, will i need to come up with 20%....
Thats starting to sound expensive.....

mingming
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Post by mingming » Wed, 15 Oct 2008 2:42 pm

Hi Zjules, usually, depending on the bank and your credit status, banks will loan up to 90% of the valuation price of a property. My advise will be to check with your bank on how much you will be able to loan before making the calculations on how much more you'll need to put in.

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sundaymorningstaple
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Post by sundaymorningstaple » Thu, 16 Oct 2008 12:17 am

The way I understand it, now it is 20% down payment as this will tend to slow down speculators. I doubt any bank with buck the MAS as they won't want to lose their banking licenses.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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