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Hi Gurus,
I'm a PR and we are currently staying in a 4 room HDB. I would like to sell my HDB and upgrade to a condo. I don;t have any outstanding loan on the 1st property.
My question
1) How much loan can I get for the condo ?
2) How much CPF can I withdraw as my monthly EMI for the new property ? I'm looking at a loan of close to S$1M.
3) what is the ABSD that I need to pay
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2 Answers

Mike Lim
Replied
Morning,

How much loan you can get is subjected to bank assessment, based on your income and credit standing. For purchase of residential unit, as long as the unit have a valid lease of more than 60 years or you have not reached retirement age, you will be eligible to utilize all the OA available for the monthly installment payable. ABSD payable for SPR, based on first property count, after selling your HDB unit, is 5% of purchase price.

Do contact me for detailed discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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CK Ang
Replied
Hi, I am sure you have many questions this moment. About the loan amount, I can recommend you a good banker to assist you. Follow up with financial analysis to let you understand the selling price rang of you current HDB and the price of condo to look for.

I am reachable at my mobile.

CK Ang
 9046 3808 
Vestor Realty Read More
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