1) According to policy, you are eligible to purchase a 50 yrs old HDB flat.
2) However, you have to beware of the limit on the CPF you can utilize in your monthly mortgage payment.
3) Suggest you use the link below to do a calculation to understand more:
4) We may meet up for coffee if you need any assistance over this.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
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According to CPF and HDB policy, CPF usage will be restricted and HDB loan quantum will be reduced if the property bought could not cover the youngest buyer up to 95 years of age. A 50 years old HDB has only 44 years old of lease left. As such, assuming you and wife bought a 50 years old HDB, it can only last the youngest buyer up to the age of 76 years old and as such CPF restrictions and HDB loan quantum reduction apply. Nevertheless, I have experienced assisting buyers in successfully purchasing flats that could not last them till 95 years old using CPF and housing loans. With careful calculation, they do not have to top up any extra deposit at the point of purchase although disadvantage might occur later when they will reached their CPF valuation limit faster than the rest. I am well specialised in HDB transactions. Do contact me at 93375051 for a free and non obligatory discussions on this.
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