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Hi, i m PR, my husband is Singapore citizen. We have a HDB with outstanding bank loan. we want to upgrade as we are having 2nd baby soon. But our income ceiling has already reached so we are not eligible for buying a bigger HDB. If we want to buy a Condo and willing to sell our HDB, is it considered as 2nd property which needs 40% downpayment? And how much is the stamp duty? thanks!
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1 Answer

Mike Lim
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Evening Jenny,

For purchase of resale HDB unit, using bank loan, there is no income ceiling to work on. But if you are looking at BTO unit, the income ceiling is $10k.

If you are looking at upgrading to condo, after sales of your HDB unit, it will be considered as your first purchase. You can get max of 80% loan. No ABSD is required.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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