5 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

Based on your information, you estimated sale proceed is $81,300. You may use HDB Sale Proceeds Calculator here: https://services2.hdb.gov.sg/webapp/BB24SaleProceedCalculator/BB24SSaleProceedsCalc

If you are taking a second HDB loan for the BTO flat, your loan quantum will be right-sized by utilising the CPF monies refunded and up to 50% of the cash proceeds from the disposal of the existing or previously owned HDB flat. You may, however, keep the greater of $25,000 or 50% of the cash proceeds (including the cash deposit received).

You will need to use 50% of your sales proceed if you are taking a second HDB loan. In this case, you must set aside $40,650

You may refer to HDB's link here: https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/financing/planning-for-your-next-flat

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

0

Ivan Ng
Hi,

If you intend to take HDB loan again for the new BTO, 50% of the cash proceeds is 41k which you need to port over for the next purchase.

580k
Less 71k (outstanding hdb loan)
Less 45k (resale levy)
Less 377k (cpf refunded+accrued interest)
Less 5k (future buyer deposit)

Balance is 82k. 50% of that is 41k.

I have worked on similar cases before and would be happy to share the best approach for a smooth transition.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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0

Nick Tan
Dear Sir/Mdm,

After the sale of your flat, the sales proceeds is about $87,000 (580,000 - 71,000 - 377,000 - 45,000). To take a HDB loan, you will need to reuse half of the sales proceeds $43,500 into the next house.

In this case, the loan required for the next house will be at $100,000 because you can reuse a significant amount of your CPF. The minimum amount of loan HDB can grant you is $100,000.

Please feel free to contact me so that I can do up a financial breakdown in detail for you and also plan the timeline for you to transit from your current place to the BTO.

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

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Aaron Chong
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Taufik Hussein
Hi
The curent rule is you can keep the higher of $25k or 50% of cash proceeds for 2nd HDB concessionary loan. The calculation is ($580000-$71000-$45000- $377000 =$87000) You can keep 50% cash proceed which is $43,500. I do provide a free and non obligatory consultation for issues in regards to properties. Do contact me at 93375051 for further discussions in regards to this.
Regatds
Taufik Hussein
ERA Realty Network Pte Ltd Read More

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