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Hi, hope I can get some help from here with 3 questions.
1) Can I still get a HDB loan if I want to change to another 3 room flat?
2) Is there any levy that I have to pay for my first flat? Is so how much do I have to pay?
3) COV received from current sales will be my cash deposit as long as whatever from sales of flat can pay back CPF with interest?

Additional info. My first flat was a resale flat in CCK. Had troubled MP to allow us to sell flat by the 3rd year as both me and wife were retrenched and were unable to continue loan. We had taken the 1st timer grant. In a rush and without much choice, we selected our 2nd flat in Telok Blangah, a 3 room flat. Due to financial difficulty, the MP help us to ask for 2nd HDB loan. Now we want to move to another 3 room so that we can renovate the new place to what we desire. Our current place is without any renovation.

Sincerely hope for some kind replies. Thank you.
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4 Answers

Ron Lim
Replied
1) Yes you can, as long as you have not taken 2 HDB loans in the past.
.
2) Levy is only payable when you wanna buy the 2nd subsidized flat. If you sell and buy in open market, no levy is payable.
.
3) COV is not necessary cash to the seller. You got to repay your outstanding loan, if any, then repay to your CPF account with accrued interest, the remaining will be your cash.
.
So since you already gotten HDB loan twice, you have to request for the 3rd one. Case by case basis.
.
Hope the above answer your query, send me a message/sms/call, if you still need more info.
.
RON LIM
 9321 5858  Read More
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  • DT
    Replied
    Thanks for your reply. So how do I go about requesting for another HDB loan? I downgraded from 5 rooms flat (HDB Loan) to a 3 rooms flat. (HDB Loan). That was an unforseen circumstances. Now I just want to really have my own Home. My second house was purely a no choice and quick pick.
Ken Tan
Replied
Hi Danny,

To add on,

New rule from HDB regarding taking up a second hdb loan

- Full CPF proceeds from sale of current flat must pay for downgraded flat.
- Half the cash proceeds will go towards paying for downgraded flat.
- Remaining amount would make up 2nd HDB concessionary loan.
- Should cash proceeds be $25k or less, flat buyers get to keep it all.

Regards,

Ken Tan
 96461490 
ken_tankw@yahoo.com.sg Read More
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  • DT
    Replied
    I downgraded from a 5rm(HDB Loan) to a 3rm(HDB Loan) due to a no choice and quick pick from resale market. Right now, I want to move into another 3 rm flat, does that consider downgrading? I have already taken 2 HDB loans, can I get a third? Now if moving into another 3 rm flat means downgrading, what about moving into a 4rm flat? My current 3rm flat, taken 2nd HDB loan, was $166k back then. Used about $70k to downpay the flat. My balance now is $101k with interest. I have checked my accrued interest to CPF, combined with my wife's is no more than $10k. So this means, presuming I sell current flat for $330k with $30k being COV. I have to return HDB $101k, return CPF $80k, right? So $330k less off a total of $181k, I get to keep the $149k in cash, am I right? So do I have to dump in all my cash or just everything in my CPF only? I need to know because alot of hearsay which would be difficult for me to do my planning.
Able S.K Toh
Replied
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From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More
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Able S.K Toh
Replied
WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More
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