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Morning Joan,

Yes, the current HDB ruling requires all HDB buyers, who are going for their second HDB loan, to use 50% of their cash profit and all their current CPF OA monies, on the upcoming unit, prior to lending you the balance. This is not the cash, if you were to get a bank loan for your upcoming resale unit.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Joan,

If you intend to take HDB loan for the purchase, the answer is yes. You need to fork out 50% of cash proceed. Pls note that this is cash proceed, not sales proceed. Your CPF proceed will also be fully utilised on the new purchase.

However, if you decide to take a bank loan, you will need to put in 5% of valuation cash and the balance 15% in CPF.

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