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If buy HDB resale and use HDB loan first, then change to bank loan, need top up downpayment?
Since HDB loan downpayment is 10% and bank loan is 20% downpayment, if switch to bank loan need pay the difference?
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Hi Gabriel.
Assuming its the hardest case scenario
HLE 90%
10% Fully CPF usage
And you want to refinance immediately to a bank loan.
(Note : Must wait for HLE to disburse first)
Ok so for the hardest case scenario, its hard because banks maximum refinance Loan to value for these are around 80% - 85% subject to approval.
However in most circumstances, due to HLE forcing you to use most of your CPF, your LTV is below 85%
you can then do it immediately.
No need any cash downpayment.βββ