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Hi,

You must first meet your MOP of 5 years before you can sell your current flat.
For HDB loan, downpayment is 10% (all CPF possible) and for bank loan, downpayment is 20% (cash 5% cpf 15%). Depending on how much cash proceeds from sales can be achieved, I will be glad to illustrate the financial planning to understand which is a better option for you.

Yes you are able to do a HDB contra since you qualify for a 2nd hdb loan, and hdb will deduct 1/2 of the cash proceeds from sale and clear your CPF OA if you Opt for that. Your timelines need to be managed carefully so as not to cause the transacation to break down. Thanks and hope To have the opportunity to work with you.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Afternoon,

Firstly, you must have fulfilled the MOP requirement.
All Singapore citizen are eligible for HDB loan twice. Upon using of your second HDB loan, you will be required to utilize 50% of the cash proceed for the upcoming purchase, along with the CPF OA you have in hand, before you will be loan with the possible balance, based on your HLE figures. Since your current unit have being serviced by HDB loan, you will be able to utilize enhanced contra facility.

Do contact me further if you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,
Below is my input.
1. HDB loan for 2nd purchase will be straight forward for you since your current loan is with HDB.
2. Contra will be good for your case.
3. When using contra, HDB will utilized half of the proceed for the new purchase.

Please drop me an email for further questions or enquiry.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi,

Yes you are able to do contra if you still qualify for a second HDB loan.

HDB will deduct the 50% sales proceeds when you do contra.

As to whether you should get a bank or HDB loan, it really depends. Allow me to explain it further in details to you. I can be contacted at 9323 3330  .

Thank you.

Angela Chua
Propnex Realty Pte Ltd Read More

H
Kindly allow me to explain the difference in using hle or bank loan for your next housing needs. I will love to assist you in details from here. I am contactable via 91442664 
Tricia Tan 91442664  Read More

Hi,

As your query is of a complex financial nature, let's speak further to allow me to understand better and as such, devise your financial cash flow to plan better for contra sales. I am handling a few such cases and would be glad to render assistance and advise accordingly.

I hail from the #1 team of ERA in Singapore, Asia Pacific and international for 2014. I have also won many coveted awards recently, which is a testimony to my commitment and drive towards meeting my clients real estate goals and aspirations.

To briefly kickstart,
1) We will need to plan your financial calculations flow -
Loan Matters/ Quantum of Utilisation of CPF funds & Cash
(2) Assess the transaction caveats and history of surrounding properties to aid in pegging your purchase price to maximize your interest
(3) Discuss the markerting strategies/tool to get your unit maximum exposure in this sluggish market
(4) Discuss upgrade options

Do contact me for a non obligatory discussion should you seem me fit, to share more on my markerting techniques and offer insights to the market to best optimize your interest!

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

#1 team of ERA in Singapore, Asia Pacific and international for 2014.

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2015 February ERA Top Achievers
2014 Overall Top Achievers
2014 Aug/Sept/Dec ERA Top Achievers
2014 3rd Quarter ERA Top Achievers Read More

Dear Sir/Mdm,

I would suggest that you consider doing the following before deciding bank or HDB loan.
1) Apply for HLE and AIP for bank loan and judge how much you need to top if the amount is insufficient.
2) Do detail financial plans with an agent to determine how much is your cash proceed.

Do note that you need to put 50% of your cash proceed and will need to wipe out your entire OA account should you decide to take HDB loan. For bank loan you will need to put aside 5% of the purchase price. For bank loan, do note that interest rate is going up and it might not be a wise choice either.

Therefore, may I suggest that we can meet up and I will do a detail financial plan and assess your current requirement before I advise further.

Hope that I have answered you question.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com
Website: johnny-goh.com Read More