Why are there different terms, e.g. loan-to-value limit, cash payment condition, maximum loan amount, etc. in taking up a housing loan from the financial institutions and HDB?
FIs, which are commercial entities, provide housing loans in accordance to conditions and guidelines stipulated by the Monetary Authority of Singapore. On the other hand, HDB, as the public housing authority, provides housing loans to help Singaporeans, including those with lower incomes, buy their own home. Given the different nature of FIs and the HDB, it is understandable why housing loans from the FIs and HDB have different financing terms.
This information is sourced from HDB
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