Do you re-finance your loan for your HDB?

L

LynetteLoh

Member
Hi just wondering if anyone of you re-finance your housing loans? If yours is HDB loan do you re-finance? How does this work anyway? I'm interested to find out and listen to any of your experiences.
 
S

stonston

Well-Known Member
Is yours a HDB loan?

Mine is & to refinance (decrease debt), they welcome it, just need 1 month notice. For me I intend to make a lump sum payment once we've accumulated enough.

If it's bank loan, it's up to you to refinance (bearing in mind admin charges).
 
adoncia

adoncia

Member
my mom just did a lump sum payment via cpf. ;) And that clears her loan. As long as your CPF has got enough to pay off, you can request to clear your loan by paying the lump sum via cpf.

For re-financing, it's every 5 years if I did not remember wrongly. :D:)
 
P

Propertyman

Alpha Male
stonston said:
Can be either as long as you have $$$$$$$$$$$$$$$$$
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For HDB loan. we dun call it refinance. We use the term lumpsum repayment.

As long as u have cash of cpf, u can do a lumpsum repayment as and when u like. Just go down to any branch office and tell them u wan to do a lumpsum repayment for your house.

I do have client who does lumpsum repayment every 1 yr when they have the cash of cpf.
 
D

ddsmyworld

New Member
hi, i'm new to the forum and thanx for this very informative thread. just have a doubt, when we get a loan for resale flat, the amount for monthly installment goes from our CPF alongside our $$s right? so any amount that is left over from CPF could be used as well? also may i knw the CPF capping that is initially allowed while buying a resale flat? is there an early repayment fee if i apply a loan from HDB? thanx a lot in advance.
 
J

jenng

New Member
Hi is there a way to mortgage my parents flat? Check with sm banks but due to their age is not approved . Please help!
 
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