You must met your MOP of 5 years first.
If you decide to sell hdb only after you have moved into condo, you will be buying your 2nd prop at point of condo purchase, hence breakdown as follows:
Max Loan 50%,
BSD+ABSD of 10% for 2nd prop, and restricted CPF usage as its your 2nd prop purchase.
If you sell away your hdb first, breakdown as follows:
Max bank loan 80%
Stamp duties 3%
No restricted cpf usage since its your 1st prop.
Hence you can see 2nd option is more manageable. Thanks and may I assist with your housing plans? Managing your timelines are important so you can have a smooth transition, I will be glad to assist further. Thanks and hope to discuss further.
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Please feel free to contact me at 96659926 for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to very comprehensively chart out your financial calculations flow/ loan matters/ ABSB +BSD and for us to explore the available options and alternative.
Rest assured, I will walk you through the entire process- assisting you all the way from finding the perfect property to negotiating for the best price to post deal paperwork, to establishing financial calculations and ascertaining risks. Furthermore, since you are not liable to pay any agent fees, why not let me shoulder the stress of the technical aspects of your purchase while you savor the process!
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max loan eligibility is 50% of the valuation for 2nd property if you are still serving loan for your current flat. Do you aware of the ABSD?
My suggestion is to work out the financial plan and the options.
Can you avoid ABSD? Please drop me an email for me to share the options.
I can be contactable at my mobile or email.
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You can eligible to purchase a private property or apply for new EC if you have fulfilled your applicable minimum occupation period.
For purchase of new EC or resale private property, as long as you sign an undertaking letter with bank stating that you will dispose off your HDB within 6 months from your private purchase or EC's TOP date, you will be eligible to take up to 80% bank loan.
This is not applicable for purchase of new private property.
Hope it clarifies your doubt. If you need any further assistance or advice in your property upgrade, feel free to contact me. Cheers!
YT TAN 陈永达 | ACCA Graduate, RES
Property Avenue Pte Ltd
(M): +65 9111 5171
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