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Hi, Gurus!, My wife & I currently own a 5-room HDB flat for almost 5 years with an outstanding HDB loan of 100K. My CPF contribution is enough for monthly HDB loan instalment. We now have cash+CPF about 250K and would like to buy a resale condo unit and like to know whether there is any way we can borrow upto 80% 2nd loan with current regulations. We intend to keep HDB flat and rent it out. I am 48, my wife 41 and my annual income is 120K.
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4 Answers

Hi Jimmy,

Unless you are able to clear your current mortgage loan, or else there is no way you are eligible for max 80% of loan.

Hope that I have answer your questions.
Feel free to contact me for further queries.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
ERA Read More
1
Dear Jimmy,
Once you settle yr 100k outstanding loan, you will be eligible for 80% loan. However, yr cash + CPF will be down to 150k. For a $1m condo, you need $200k cash + CPF. I think we have a solution for you.
Call James NG 93217778  for a free consultation.
Propnex Realty Pte Ltd Read More
1
Hi Jimmy,

Unless you have cleared your existing housing loan, you will only be able to loan up to 60% of value or purchase price whichever is lower.

If you are currently thinking of buying another unit for investment purpose, why not look at commercial properties?

Contact me for further discussions.

Geryl LIM
CEA R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
1
Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
1

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