For Resale flats purchased without CPF Housing Grant, [for resale applications submitted before 30 Aug 2010], there is no need to satisfy the required occupation period for the flat before acquiring private residential properties.
Otherwise, you will have to fulfill your MOP.
It is is not true to say that you need to have a fully paid up HDB to buy another private property.
The only issue is - for 2nd mortgage, you are only entitled to 60% bank loan & 40% initial downpayment i.e. 10% must be cash.
We advised clients to fully pay their HDB if they have a small loan. They will then be entitled to 80% loan and 20% initial downpayment i.e. 5% must be cash.
Do call me at (65)-9745-5178 or email email@example.com if I can assist you in your buying / selling / renting or leasing.
Thks & regards,
Mike Tay (郑树荣)
B.Sc. (NUS), EMBA (SUNY)
M: +65 97455178
HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G Read More