Buying Executive Condo (Blossom) in Bukit Panjang

Post by **Dennis Ng** » Wed Jul 06, 2011 9:50 pm

Ax wrote:Dennis,

A question.. for EC, I understand we cannot take HDB loan... can only take up bank loan..

however, for bank housing loans, from what I understand, the interest rate will not be flat at 2.6% like the HDB housing loan...

Right now, we are having record low interest rates.. however such low interest rates wont prevail forever.. so how do we actually calculate how much money we need for monthly installment if we are going to take a loan of 30 yrs? average 3-4% interest?

Hi Ax,
who say HDB's interest rate is fixed at 2.6%? It's just another commonly held Misconception.

In 1999, HDB Concessionary Rate Housing Loan interest rate was 4.41%, I know becos I paid that in 1999.

Just go to www.HousingLoanSG.com

Use the loan calculator link below, to be safe, you can just use 4% as the interest rate for the Housing Loan.

http://www.housingloansg.com/web/index. ... &Itemid=38

Ax · Post by Ax » Thu Jul 07, 2011 5:17 pm

Thanks Dennis. Found out that e hdb interest rate is pegged to plus 0.1% of prevailing cpf interest rate.

kakashi78 · Post by **kakashi78** » Fri Jul 08, 2011 3:56 pm

Hi Dennis Sifu,

Understand from your staff that some bank like ANZ offer housing loan such as average of sibor and SOR plus 0.75% interest rate. Is it better than just pegged to sibor or SOR only? Thanks

Post by **Dennis Ng** » Fri Jul 08, 2011 5:45 pm

kakashi78 wrote:Hi Dennis Sifu,

Understand from your staff that some bank like ANZ offer housing loan such as average of sibor and SOR plus 0.75% interest rate. Is it better than just pegged to sibor or SOR only? Thanks

Hi kakashi78,
not necessarily better. Just another type of package, that's all.