AskGuru Q&A Community

Hi Andy,

As long as you have fully paid up your loan or have sold the property (and therefore not under loan), then you can loan up to 80% for your property purchase.

Thanks!

Regards,
Richard Wan
Black Diamond Real Estate Group
richardwan@live.com
 94363793  Read More

Hi,

To qualify for 80% loan, you need to make sure that your currently property is ither fully paid of sold.

Say you sell off all your pte property. you will need 5% cash + 15% CPF + Stamp duty and legal fees.

96722265 Read More

Hello Andy,

with the new rulings, it is a little more troublesome. The timing is very important here and it can get a little tricky. To avoid the stricter financing rules for your new home,you will have to sell your current home first and provide proof of the sale.

Normally the whole process would take around 3 mths to complete BUT you can also buy a new home during that time and still obtain 80% financing for it as long as you can provide the following documents :

1. For sellers of private property, the signed S & P agreement for the house being sold, as well as a certificate from IRAS stating that the buyer of the house has paid the stamp duty.

2. For sellers of HDB flats, an approval letter from HDB within 2 weeks from the date of the 1st appointment.

The key issue throughout the whole process is the issue of timing. Do engage a competent agent to help plan your timing. I hope this helps!

Feel free to contact me if I am able to assist you in any other matters. Have a good weekend!

Best Regards
Dalen Chee
email : dalenchee@gmail.com
mobile : 9695 2550 
my web : www.96952550.com Read More

can TRY http://www.goldclubasia.com/forum/
OR WWW.KITCO.COM OR WWW.SILVERBULLION.COM.SG FOR MORE INFORMATION ABOUT GLOBAL AND LOCAL ECONOMIES, AND PROPERTY, TO HAVE MORE COMPLETE AND DIFFERENT VIEWS.. DO FORWARD TO YOUR FRIENDS AND LOVED ONES... CHEERS... Read More

there is a minimum sum CPF for 2nd property buyer at $123k
www.catherinepang.com Read More

Hello Andy,

Thanks for your query on loan qualification for private property.

Loan qualifications fall into 2 broad categories:

80 - 20, where 80% is the loan portion
70 - 30, where 70% is the loan cap

For first time buyers into ANY property, the maximum loan allowable is 80%.

For buyers with ANY pre-existing housing loan, the cap is 70% financing for the second property.

In addition, the CPF minimum sum will apply for 2nd property buyers.

Also do note that the anti-speculative measures are targeted at segmenting the HDB market from the private market, thus there are implications where buyers cross buy between HDB and private units as well.

Let me know if you have any further queries on the above matter.

Your Singapore Condo Specialist Team,

Mervin Tang
Senior Marketing Associates
Developer's Appointed Agency
Huttons Real Estate Group

Call Today: (+65) 9184 0208 
Website: http://www.sgcondospecialist.com
Sales Enquiry: enquiry@sgcondospecialist.com
Career Opportunities: career@sgcondospecialist.com Read More