Housing loans by banks

coolgeek84 SG

Hi all, I was just curious if banks offered any other loans usually to make it easier to pay for the 5%+15% price for private housing. Of course 80% is covered by housing loan. I just started working a few yrs back only and don't have those huge amounts they require for the downpayments. But I can pay them monthly..

Any ideas/methods on how this downpayment can be offset into monthly payments instead? lol.. I hope I got my point across.. haha..

Btw, I dunno where to post this.. And Chit Chat seemed the most appropriate becoz I am trying to chit chat.. haha..

FireIce SG

just started working and u are going for pte housing?

coolgeek84 SG

well we are looking at all the options. ok la. I didn't start last year or what.. its going to be 5 years now in fact.. but nevertheless, it is still of not much use when ur cpf is not that high. i have only 2 yrs of cpf contribution as i was posted out of sg after that. i can afford the monthly payments without any problem. its just that the downpayment is a bit ridiculous.. lol..

jojobeach SG

Any ideas/methods on how this downpayment can be offset into monthly payments instead? lol.. I hope I got my point across.. haha..

Btw, I dunno where to post this.. And Chit Chat seemed the most appropriate becoz I am trying to chit chat.. haha..

That means u r trying to finance your home 100% because u r short on cash.

Unless ur income is BIG ... Else.. I wouldn't suggest u do 100%.

Live within your means dude... When u over stretch yourself financially.. .. Your life will become very miserable living on debts.

Even if the banks r willing to give u a personal loan... I wouldn't suggest doing it.

Jimm1978 SG

I got my housing loan in singapore from DBS, and it covered me for 80%..I didn't have any problems with the downpayment but then again, I had the cash for it. Same advice, live/buy within your means..you don't want to be living from credit card to credit card. But if you're still insistent then I suggest you look at bridging loans..to cover you for the downpayment. Good luck bro.