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Dear Guru,

I am a SPR. I am still serving loan for HDB which I bought together with my brother (whom has become a SC now)... And we could pay our HDB fully if we want to)...
If we were to pay our HDB fully, being a SPR, could I buy another condo unit? What will be the max loan... I am 43 years old now...
Thanks...
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1 Answer

Mike Lim
Replied
Morning,

Under the current ruling, it's not about whether your HDB unit is on mortgage or fully paid, it's about the MOP requirement. If you have fulfilled the MOP and fully paid for the unit, you are eligible to purchase your second property. You should be able to get 80% loan, based on your income status and credit record. You are also liable for 10% ABSD, being a PR buyer.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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  • CL
    Replied
    Dear Guru,
    Thnx for the reply...
    I have been staying the same HDB since year 2000. You mean if I were to fully pay my hdb now, I could still buy a condo (with 80% loan) as a 43yrs old SPR?
    Thanks.

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