For people who be able to safe an effective bank rate and need when deciding to take advantage of they for many years, do it now. If not, i t’s along with you can easily first off the brand new HDB mortgage and you can refinance having a bank after when prices increase.
Whenever you are purchasing a done HDB flat (i.elizabeth. resale) – or if perhaps you might be refinancing for the newly-centered BTO, maybe – then you have more solutions.
According to your revenue, you may want to or may not be qualified to receive the HDB mortgage once you buy an HDB selling flat.
Should you be considered, brand new HDB loan is often the best selection whilst needs a smaller sized down-payment which will be significantly more flexible – you might financing a small amount, like, and make partial otherwise over payment very early without any punishment.
In terms of loans from banks, a finished HDB flat and additionally enables you to use less than an effective repaired interest (plus the floating rate bundles i chatted about above).