AskGuru Q&A Community

Hi Jason,

Below are the breakdown for your next purchase,

1) 5% Downpayment (Cash)
2) 15% Downpayment (Cash/CPF)
3) COV (Cash)
4) Stamp Duty 3%-$5400(Cash/CPF)
5) 1% Agent Fee (Cash)
6) Lawyer Fee (Cash)

As this is your 2nd HDB loan hence the loan for your next purchase will be from the Bank.
The max loan from the Bank will be 80%.
Please do take note that you are require to fork out 50% of the profit you get from your sale of current DB flat before the bank grant you the loan amount.

Hope I have answer your question.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
ERA Read More

Dear Jason,

As you have taken a HDB loan the 2nd time, you are not eligible for HDB Loan,hence you will not be required to use 50% of the cash proceed for your next loan.

For bank loan, If your current house is still with the outstanding loan, the bank will only loan you up to 60% of the valuation. However Bank MAY review the loan package when you show proof (HDB approval letter) that the current house is sold

To have a detail understanding of your position, one of the option is to go through the financial calculation with you in person.

In addition, we can also touch on the issues that you may face when come to sell and buy a house at the same time and also to address any other concerns that you may have.

You are most welcome to contact me at
 9476 2732  or jiaming.choo10@gmail.com

Choo Jia Ming
Savills Residential Pte Ltd Read More