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Mike Lim
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Afternoon Mahony,

Upon fulfilling MOP, with existing mortgage loan, bank can disperse max of 60% loan where 10% must be cash and 30% can either be in cash or combination of both. Do also note that you are also required to set aside the CPF minimum sum if you intend to use it for your second property. If you are PR, you are liable for ABSD on your second property.

To purchase either resale or new launch, it's not advisable to sell within 4 years as you will be liable for SSD of 16% to 4%, depending on which year you are selling. Resale property have bigger area size and can generate rental income as soon as you are the owner. You can even purchase unit with tenancy agreement. New launch which might be cheaper, have a waiting period where you have to pay the installment from your pocket. Either way, holding power is the main key.

As to how much capital you require, it would be dependent on how much available CPF OA and cash you have in hand, how much the bank can loan to you and the actual price of the property you are looking at.

FYI
Mike Lim
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Email add: m52i@yahoo.com
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