Posted on 06 May 2020
Was thinking of putting my name down in the loan to help support it, but not sure if that will negatively affect my potential of getting a home loan for a HDB I'd like to get with my gf/fiance.
Is your parent home a HDB or Private?
If it's private, you can ask for Repricing (within the same bank) usually easier. For Refinancing (out of the current bank) there may be some checks which would render the application null (unsucessful). Age, income, TDSR / MSR (HDB/EC) would be taken into consideration. If all else fail there is a debt reduction program where one can paydown 3% of the outstanding loan to get a approval.
If you intend to get a HBD on your own don't put your name (agree with Hariz, you can't anyway). It will hinder your applicaiton for a new flat. (A family nucleus can only own one HDB, so you need to bear that in mind.)
If the loan is above 100k, they probably can refinance or reprice it as long they're still not in any lock-in period. Speak to a mortgage broker for help and costs breakdown.
Btw don't put your name (I don't even know you can do this), just help them out by giving them cash instead if you want.
07 May 2020
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