Confidential 0 Report post Posted February 28, 2012 Hi guys, Just want to have a better knowledge on the different options I have to pay up for a HDB house. Most common methods used by most are a payment via CPF and taking a bank loan. In either case, they will have to pay a downpayment for their new house of 20% either through CPF/Cash. After that, the remainding amount will be paid through installments to HDB either from the CPF or bank loan.Given my scenario, I have a house which I sold off for eg. $400K and bought a new house from HDB for eg. $600K. The difference which I have to pay is $200K. I would like to know if I do not wish to pay by CPF or take a bank loan, would I be able to use cash and pay HDB monthly? Or the HDB requires one to pay fully the house, in this case through CPF/Bank and we in turn pay the CPF or bank? An kind souls care to share? Share this post Link to post Share on other sites
beluga 1 Report post Posted February 28, 2012 (edited) You can choose to pay monthly installment via cash or CPF but if you take HDB loan, you must use all existing CPF money that you have at the time of purchasing the HDB. However, there is a way to overcome this1) Sell your house first2) Go buy some investment via CPF money to lock away that money3) Buy a new house4) Sell away the investment to put back the money. Edited February 28, 2012 by beluga Share this post Link to post Share on other sites
Confidential 0 Report post Posted February 28, 2012 Sounds like a cheat code to save keep the CPF! From what you wrote, it means that HDB will definitely suck away all of the remainding CPF in the OA for financing of house? Share this post Link to post Share on other sites
beluga 1 Report post Posted February 28, 2012 Sounds like a cheat code to save keep the CPF! From what you wrote, it means that HDB will definitely suck away all of the remainding CPF in the OA for financing of house?In the case of bank loan you can choose not to touch CPF, but for HDB loan, you bet! Share this post Link to post Share on other sites
Confidential 0 Report post Posted February 28, 2012 I'm actually planning to pay in full cash for the top up. As of now, HDB has not given us a pricing for our current house and the new house yet. But to exagerate the amount would be around <$200K... Share this post Link to post Share on other sites
Xanana 0 Report post Posted March 2, 2012 paying every thing by cash ??? wow... alot envy youcan I be your Best Friend ? Share this post Link to post Share on other sites
bepgof 20 Report post Posted March 5, 2012 paying every thing by cash ??? wow... alot envy youcan I be your Best Friend ? Using own cash, some time , could be more expensive than by borrowing from banks.Singapore Power is "cash cow", has constant inflow of cash from Giros, why they issue debt to raise capital?Apple has 90 Billions of CASH on hand, why it NEVER issue dividend to its stakeholders? Tim Cook is now very headache with "too much cash" on hand.Finance Joke:Value of co= cash flow/cost of capitalmore cash, less cost increases co's worth.CEO manages cash flow (bring business in)CFO responsible for sources of cheapest cost of capitalSo, value of company = CEO/CFO ! Share this post Link to post Share on other sites
wvadsi6 0 Report post Posted April 9, 2012 If you are taking a housing loan from HDB or if you are not taking any loan, you have to pay a 10% initial payment, based on the resale price or valuation price of the flat, whichever is lower. You can use your CPF savings or CPF Housing Grant or a combination of both to make initial payment. If there is a shortfall, you will have to pay the balance in cash.energy saving bulbs Share this post Link to post Share on other sites
Jervois 1 Report post Posted April 16, 2012 So for this shortfall can one get another loan..is it possible in singapore loan from two banks..will they give it.. or if you have taken loan from CPF and for the same house you need another loan..is that an alternative? Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 16, 2012 So for this shortfall can one get another loan..is it possible in singapore loan from two banks..will they give it.. or if you have taken loan from CPF and for the same house you need another loan..is that an alternative?Bank loan u $ for 1 simple reason-earn yr interest, provided u are creditworthiness. Bank makes sure u use the $ that lend to u to make "milk" - to make profit, not to pay "another loan".Whih company manage to get bank loan for paying dividend? It is "non productive" in nature, bank won't lend$ for doing "non-productive" - $ perceived to be hard to get back eventually.One loan serves one house. Share this post Link to post Share on other sites
therat 18 Report post Posted April 17, 2012 So for this shortfall can one get another loan..is it possible in singapore loan from two banks..will they give it.. or if you have taken loan from CPF and for the same house you need another loan..is that an alternative?why are you copy and paste your posting again and again.Why you put DBS personal loan in the link?http://www.dbs.com/posb/loans/default.aspxAre you DBS officer? Share this post Link to post Share on other sites
