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Both myself and my wife are SPR and has owned resale HDB for 5 years, I m planning to buy private property in Singapore. What are the rules on the income ceiling and bank loan procedure? Further how much cash I need to standby if the private property I m planning is S$ 800,000 with four room condo.
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1 Answer

Mike Lim
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Morning Yugesh,

As you are PR, you are required to sell away your HDB unit within 6 months from key collection. Hence you will be eligible for 80% loan, with conditions attached. You will not be liable for ABSD. Assuming that you managed to obtain 80% loan but do not have enough CPF to handle the purchase, you will need around $200k cash.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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