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Hi I bought a HDB 5 rm flat ( this is my first house & with HDB loan) from HDB with my mom. I got married recently and decided to sell this house and downgrade to a 4 room flat because I want to lessen the financial burden as my salary is not that big. Can I buy from HDB still or only resale market? If i buy resale, can I still get HDB loan? I heard that I cannot get HDB loan because I am downgrading. If I get bank loan, will the monthly be deducted from CPF or I have to pay cash monthly?If i transfer the present flat to my name and my wife, we have to refund a large cash to my mom's CPF. Which is the better choice?
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1 Answer

Ander Ang
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Hi,

1) You can still buy direct from HDB.

2) Since you only took 1 HDB loan before, you are still entitled to take another HDB loan provided you satisfy all the conditions.

3) If you take a bank loan, monthly instalments can be deducted from CPF OA account. Of course, you can choose to pay by cash also.

I think it is better for you to downgrade to a 4rm resale HDB flat. Need to do a thorough financial calculation before proceeding.

Please call me at 98628691  to discuss further.

Thanks,
Ander ERA Read More
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