Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance
Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance
i was told by banker tat MAS dun allow us to use the $ to purchase another ppty anymore worOriginally Posted by marktkt22
Can share what is the rate like?Originally Posted by marktkt22
How will they know what you do with the money after they disbursed to you? Simple, tell them that equity financing money is not for buying property loh (even though you may actually do so later)?
Originally Posted by devilplate
of coz initially they dun noe...Originally Posted by teddybear
but wat if suay suay they call u to check where the $$ come from for the next condo purchase?
Ok, but what the risks ? .... actually of doing equity finance vs normal house loan ?
Top up risk ?
I Wont use it for house, it for investment.....
Don't think there's a restriction on what you can do with the money from equity loan.
At least not for my case
Rates same as house loan
Originally Posted by Ilikeu
last time definitely can use to buy ppty one lor...somemore can use the interest paid to reduce rental income taxOriginally Posted by Jonathan0503
when u did ur equity loan? i was also very surprised to hear it from banker recently....just about 1mth ago
Dbs bank .... Sound good.
I go ahead then ....v likely
Originally Posted by devilplate
Ocbc, scb and anz also can do,
I chk with them also
For fixed rate, wats the spread after lock in period?Originally Posted by marktkt22
Let me go and find out,
Because i intend to go 2+2 , so by 4th yr,
All locked in and clawback over already
Originally Posted by devilplate
Sorry I don't know much about equity loan. What's the criteria to secure this loan?
Yee ha! Did I tickle your funny bone?
Current Valuations exceed purchase price
Originally Posted by ecimbew
Got the loan last year April 11, buy May 11. Going to claim interest for income tax this year.
And after CSC is issue.Originally Posted by marktkt22
About 5 months ago. Maybe rule has changed now?Originally Posted by devilplate
Current value exceeds purchase price and must be after CSC is granted
Then how much equity loan is allowed?
Yee ha! Did I tickle your funny bone?
This is not my cup of tea.Originally Posted by ecimbew
Before the CM it was 70%, now after CM check with the bank, if I am not wrong should be 60% of valuation of property.Originally Posted by ecimbew
What if the person who took up this suddenly con off?Originally Posted by Arcachon
What is con off?Originally Posted by DC33_2008
knock out! Go to find the maker suddenly!Originally Posted by Arcachon
O I see. In the US, bank take back the house. In Singapore don't know.
Quite bad! Any recent photos of sportshub from SB?Originally Posted by Arcachon
I heard that need to payback to cpf if downpayment draw down is from cpf. Is that true?Originally Posted by Arcachon
So in the end the balance amount may not be much.
For eg.
valuation is 1.2m
60% is now 720k
less loan outstanding is 500k.
less cpf refund 100k
cash balance 120k
I think this is how it works.
Then it means having sufficient money in CPF and cash for another property!
Yee ha! Did I tickle your funny bone?
Still in France, going back Singapore for good maybe end of the year.Originally Posted by DC33_2008
Buy SB at $535,000 loan $428,000 in June 2006 after 20% down. TOP 2010, CSC Jan 2011.Originally Posted by rattydrama
Got a email from UOB, cash out $660,000 about 70% of SB valuation $1,550,000 in Apr 2011.
paying $1475.76 + $2329.14 = $ 3804.9 per month still positive with rental from 5 room, need to do something end of the year.