If you be able to safe a good financial rates and want to take advantage of they for many many years, go for it. If you don’t, i t’s also you are able to before everything else the fresh HDB financing and you can refinance having a financial afterwards when pricing boost.

When you’re to get a finished HDB flat (we.age. resale) – or if perhaps you will be refinancing for your newly-situated BTO, possibly – then you have a lot more selection.

Based on your revenue, you are able to otherwise may possibly not be qualified to receive the latest HDB mortgage after you buy an HDB resale apartment.

If you qualify, the fresh new HDB mortgage is oftentimes the best choice as it need a smaller down payment and is a great deal more versatile – you can mortgage small amounts, such, and come up with limited otherwise complete fees early without having any penalty.

As for bank loans, a done HDB apartment plus makes you obtain not as much as a good repaired rate of interest (in addition to the floating speed packages i chatted about over).

Fixed rate home loan packages be a little more steady than simply floating of them. The eye stays repaired toward lock-for the period, elizabeth.grams. several age. They are generally more pricey than drifting, many everyone is willing to pay a little more to own one satisfaction, also it tends to make handling funds circulate much easier. Read more