Purchase property

[dork32]

did you take a loan for your mum's hdb?

my mom is retired. so cannot meet tdsr. so no loan for her.

i took loan on my property to pay for her hdb

 

[dork32]

Anyone succeeded in trying out the aforementioned 2 hypothetical situations, please share.

like i said, i did that. it is just you do not understand.

 

[dork32]

Sure workable. All depends on what's the cost of fund and the borrower's standing.

the cost of the loan is the same as housing loan. i started off with 1.7%, it rose to 1.8%. i then refinance it at 1.3%

 

[dork32]

Hypothetically, Person A who owns Property A could borrow against accumulated equity in Property A, then take the loan amount and hand it to Person B. Person B could then pay cash for Property B. In this scenario Property B must have at least a somewhat lower market valuation than Property A.

this is my case. my mom's hdb is valued much less than my condo.

but it does not have to this case. you want to buy a second property, you must have at least some cash on hand. the loan + cash could allow you to buy a property that cost more than the first.