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Hi Andy,

1) If you still have existing mortgage loan for your current HDB flat, the bank loan that you are eligible is max 60%.
2) You need to keep aside $65,500 in your OA, and you can use the rest t buy a condo.
3) If your bank loan is max 80%, downpayment is 20% (5% Cash + 15% Cash/CPF).
If your bank loan is max 60%, downpayment is 20% (10% Cash + 10% Cash/CPF) + 20% Cash/CPF.

Feel free to contact me foe further discussion.

--
Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
www.sgRippleBay.com
www.sgBartleyResidences.com
www.sgSkyHabitat.com
www.myBedokResidences.com
ERA Read More

Hi Andy,

You have to understand that your HDB flat has to fulfill the minimum occupation period that is applicable to it before you can start hunting for a private property.

As you have an outstanding housing loan, you are still able to apply for a bank loan but banks are only able to loan you up to 60% of the valuation/ purchase price.

40% downpayment is required in proportion of 10% cash, 30% CPF.

I can introduce some bankers to you at the meantime to advise you on your in principle approval (loan amount) and please do furnish me whether your HDB flat has fulfilled the MOP.

Looking forward to hear from you soon!

Warmest Regards,
YT Tan
ECG Property
M: (+65) 9111 5171 
E: yt.lovelyhomes@gmail.com Read More

Engage an agent to understand the complete financial planning and transaction process.
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Good day

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