For property buyers looking forward to the purchase of a HDB flat, there are two financing options for these and they are; the HDB way or the bank loan way. Find out more about these two kinds of loans, the HDB loans and the bank loans, in this post and as such be in a position to make such a better decision on the one that will best suit your interests and needs as an investor or buyer of real estate property.
Looking at the property market in Singapore, as a buyer or investor there in you will have two options and these are in the HDB or the private properties. Of these, the HDB flats happen to be the dominating kinds of properties, actually representing about 80% of the market. Talking of the financing options for the HDB flats, there are basically two kinds of loans that you can think of and these are such as the HDB concessionary loans and the bank loans and deciding which of these to go for has been nerve-racking to many buyers. This is even considering the fact that the two alternatives for financing a HDB purchase each come with their peculiar upsides and downsides and as such settling for one can be so frustrating, literally putting you against odds on either end, but for the sake of getting the guidance you need for the need to settle for either alternatives, the following is a rundown on some of the things that you may want to ensure to have taken into consideration settling for either.
One of the most important things that you need to take into consideration is the factor of eligibility. Like we see them, HDB loans are concessionary loans, meaning you can only qualify for them if you are making a purchase of a HDB flat. From this it is so apparent that for those property buyers looking forward to properties like condos and the like, they would rather have to make do with the bank loans for they will be technically barred from eligibility to the HDB loans. Apart from these, there are as well some other eligibility criteria that have to be met by those who are looking forward to the HDB loans. Check out here for more on the eligibility issues that must be met by those qualifying for the HDB loans.
By and large, the HDB loans have been such a good deal for many HDB buyers looking at the fact of the stability there is in their interest rates.