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Hi All Guru's,

My Sister is owning a 3 room HDB now.She is 58 years old and still working.Now she is planning to sell her HDB and upgrade to a condo. My questions are,

1. At the age of 58 , is she able to upgrade to a condo ?
2. Whether she can get a loan for upgrade ?

If she is eligible to upgrade we are looking for a 2 bed room condo near bukit batok. Prefereably in Merawoods or nearby.

thanks
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2 Answers

Ivan Ng
Replied
Hi,

sure if she has met her MOP, she can upgrade to condo. she will be subjected to 7% absd, but she can seek a refund if she can sell her HDB within 6months of key collection to private.

however for her age profile, it is likely max loan disbursed could be until 7years (65-58) and max loan quantum 80% of purchase price subject to bank assessment. you may wish to speak to your preferred bank on this.

any shortfall between loan and purchase price will have to be topped up by cash + cpf. she also has to set aside her cohort minimum sum (should be 148K for hers) before she can utilize any CPF for housing.

Thanks and may I speak to you further over email to understand your requirements?

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More
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CK Ang
Replied
Hi, there are a few possible financial plan for your sister case. We could discuss via email.

I am reachable at my mobile or email.

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