2 Answers

Steven Chua
Hi MSG,

HDB apartments cannot be used as collaterals. However , banks will access your income and offer a loan based on your eligibility and the valuation of the condo/apartment.

Best Regards
Steven Chua
ERA
Mobile : 8188-3133 Read More

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Ander Ang
Hi MSG,

Since you have no outstanding loan, you are eligible for 80% loan from bank for condo purchase.

You must meet the MOP of 5 years before can purchase condo. By the way, you cannot 'pledge' your HDB flat to offset the loan for condo purchase.

It is best to speak to banker and do AIP (Approval In Principle). They are able to assess how much you can borrow.

Please call me at 96836230. I am able to connect you to bankers whom i closely work with.

Thanks,
Ander ERA Read More

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