LTV limit & min cash down payment for private residential – house for sale Singapore
The LTV limit & min cash down payment for private residential properties with bank loans are as follows:
|1st Housing Loan||2nd Housing Loan||From 3rd Housing Loan|
|LTV Limit||80%; or 60% if the loan tenure is more than 30 years or extends past age 65||50%; or 30% if the loan tenure is more than 30 years or extends past age 65||40%; or 20% if the loan tenure is more than 30 years or extends past age 65|
|Min Cash Down Payment||5% (for LTV of 80%)10% (for LTV of 60%)||25%||25%|
- With effect from 12/1/2013 based on the date of the Option to Purchase or S&P Agreement (if OTP is not used). House for sale Singapore.
- Not applicable to an Executive Condominium (EC) purchased directly from a property developer or a HDB flat because requires the buyer to sell his existing property within six months of TOP/CSC of the EC unit or taking possession of the HDB/DBSS flat.
- The borrower must provide the financial institution granting the loan a copy of the signed undertaking to HDB committing to complete the sale of his sole existing property within the period stipulated in the undertaking. House for sale Singapore.
- The remaining balance between the housing loan amount granted and the minimum cash down payment requirement may be paid using CPF monies and/or cash.
- * Corporate Entity means a person who is not an individual, and includes an unincorporated association, a trustee for a collective investment scheme when acting in that capacity, a trustee-manager for a business trust when acting in that capacity and, in a case where the property conveyed, transferred or assigned is to be held as partnership property, the partners of the partnership whether or not any of them is an individual.
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