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Good afternoon,

Usually buyers/ home owners will have to use up to 50% of their previous house sales proceeds and all of their CPF OA funds (can opt to set aside $20k) to reduce their 2nd HDB loan (taken once before).

If your previous HDB is under HDB loan and you wish to use HDB loan for the upcoming purchase, I am afraid you might have to do so.

Perhaps you can write in to HDB to clarify further.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi,

If your first flat is under HDB loan, and your next flat is your second HDB concessionary loan, yes, you will need to fork out at least 50% of your cash sale proceeds towards your new flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi
If you intent to take a 2nd HDB loan, you have to come out 50% of the cash proceed from sales of your previous flat as a downpayment for new flats. However if your cash proceeds is lesser than $50000, HDB generally allows seller to keep the first $25,000 and the rest have to be placed as deposit for next house. (eg Cash proceeds $30,000 only $5,000 have to be placed for the next flat). Do note that for divorce cases, cash proceeds only refers to only the proportion of proceeds you received which is excluding your ex spouse share. There is no such requirement for bank loan but 5% of value of the purchased flat needs to be placed as deposit in cash as per MAS requirement. In case you have financial difficulty or special circumstances, you may write an appeal to HDB for the exemption of cash deposit requirement. I have successfully appealed for one of my client before. I am specialised in HDB transactions and have handled various cases including the one similar to yours. In fact if your fiance is a first timer, you may even qualify for half housing grant. There are lots of information I wish to share with you in regards to you planned purchased. Do contact me at 93375051  for a free and non obligatory discussion on this.
Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051 
ERA Realty Network Pte Ltd Read More

Hi,

1) There are 3 scenarios that need you to fork out cash proceeds from your last sale:

(a) Your 1st flat was a BTO and you are applying for your 2nd BTO/SBF. You will be subject to a resale levy depending on your last BTO flat type.
(b) Your 1st flat was a resale flat with grants, now you are applying for your 1st BTO/SBF. You will be subject to a resale levy depending on your last flat type.
(c) You bought 1st flat using an HDB loan. And now you plan to apply HLE again. By utilizing the 2nd HDB loan will need you to pay 50% of your cash proceeds from the previous sales for the purchase so as to reduce the loan amount.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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