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Hi,
I recently got remarried and have 4 children from my late husband. My current husband is awaiting his PR application.
We want to buy an EA at Punggol.Can I apply under family nucleas as our family is big and we cannot wait till his PR gets approved.We are renting now and need to get a place by July, to move in. My late husband and I have owned and taken loan from HDB twice.I was the second applicant named in the ownership using my cpf monthly to pay for the loan. Am I eligible to apply for another loan,or even purchase a reasale flat from HDB.Would I need to mkake an appointment to meet an officer at HDB to discuss this matter?
I really need some answers to all this.My current cpf is not more then SGD65,000 as to date. What is the breakdown cost (in cash) or cpf that i need to have if i purchase a resale flat at SGD620.00.How much loan will or can get from HDB.I am 45 yrs old till date.
I await your reply.

Please contact me soon.
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1 Answer

Johnny Goh Mui Huat
Replied
Hi Debra,

You can buy resale HDB under the non-citizen spouse scheme. If you had taken two HDB loan before, most likely you are not eligible for third HDB loan, you need to take bank loan.

Based on $620,000, assuming valuation $570,000 and COV $50,000

The breakdown is as follow:

COV = $50,000 (cash only)
5% of valuation = $28,500 (cash only)
15% of valuation = $85,500 (CPF or cash)
Stamp duty = $13,200 (CPF or cash)
Legal fees = $3,000 (CPF or cash)
Agent fees = $6,200 (cash only)

Therefore, total you will need about $186,400 as downpayment, minus $65,000 you have in CPF, you will need approx $120,000 in cash.

Regards to how much you are eligible to loan, it is best that you talk to a banker and she/he will advised you accordingly.

Hope that I had answered your question.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Dennis Wee Realty Pte Ltd
Group Director
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More
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