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Anonymous
Is it possible to pay the downpayment for a bank housing loan in monthly instalments instead?
Understand that bank loans for housing requires a 5% down payment portion to be cash only. Has anyone been offered by the bank to convert this into monthly instalments instead? If have appreciate that you could share the name of the bank. Thanks!
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Pang Zhe Liang
25 Feb 2020
Lead of Research & Solutions at Havend Pte Ltd
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Jason Sing
25 Feb 2020
School Of Hard Knocks And Life at School Of Hard Knocks And Life
No, the 5% downpayment is strictly by cash only.
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Jacob Chong CFP
25 Feb 2020
Associate Director at PFP FA
No You cannot convert the 5% into monthly installment. The only possible route is via cashline offer...
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No, this is not possible due to regulations set by MAS.
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