News Hong Kong Property & Finance

Deferral of Closing Costs?

ORIGINAL POST
Posted by DaHKGKid 17 yrs ago
Has anyone been offered by any of the banks a defferal on closing costs such as downpayment or stamp duty. this would be a short term 12 month term.



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COMMENTS
sxc 17 yrs ago
Do you mean an interest free loan, or loaning you the money at interest?


The only deferral I know of is deferral of stamp duty. Normally it is payable 30 days from the signing of the contract. But you can apply to have it deferred until the completion date.

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DaHKGKid 17 yrs ago
Yes defferal of say 12 months or 6 months offered by any bank whereas they can give you this time to either secure down payment or loan against stamp duty and/or mortgage insurance.

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sxc 17 yrs ago
They will roll the mortgage insurance into the mortgage but apart from that I haven't heard of other costs deferral

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DaHKGKid 17 yrs ago
I am looking for a 95% mortgage to the max. $20M allowable. Does anyone know if this includes downpayment or the insured amount equals $20M and downpayment is on top of that?

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