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Hi,

I have hypothetical question.

1. Fully paid HDB worth about SGD500k.

2. Cash on hand SGD250k

3. Balance unused CPF SGD50k

4. Household income SGD250k / annum

5. Able to loan for 20 years.

6. The move is to sell the HDB and buy private property.

Questions:

Question 1: If the HDB is sold off. Can the CPF as part of the 20% downpayment?

Question 2: what is the maximum private property price that can be bought?

Question 3: what is the maximum loan can be applied ?
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1 Answer

Mike Lim
Replied
Evening Chee Seng,

1) Once your HDB have being sold, you will be eligible for 80%, based on your credit record and income status. However, first 5% must be cash and the balance can be settled with CPF. 2) As per my previous statement, your maximum loan will be totally dependent on your credit record and income status. Based on your monthly pay, it will also depend on the component of fixed and variable salary. This will then in turn affect the unit sizing, location and holding type which you will be eligible for.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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