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Hi,

If my current house is fully paid and im already 59yrs old. Not employed. I have applied for a BTO and due for selection soon. I dont intend to take up any loan and pay off the new BTO using the sale proceed on my existing flat. I understand I have to pay a downpayment of 10%?

Is it possible for me to seek HDB to allow me to pay about 5% only for the downpayment so that i dont need to come out soo much cash? The remaining 95% to be paid later with the sale proceed of my house? My CPF is close to nil as i have been a housewife all along.
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2 Answers

Mike Lim
Replied
Evening,

If my memory served me well, on selection of the BTO, you will not be required to pay full 10% downpayment. You will only be required to pay 5% and the balance will be required of you before you collect the keys to your BTO unit.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Zheng Yanhui(Alex)
Replied
Hi ,

Yup. You only need to pay 5% first, the remaining 5% will be before you collecting your key.

Regards
Alex
ERA
HP:9273 6096 Read More
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  • EE
    Replied
    My qn is can i appeal to hdb for a 5%percent downpayment instead and to pay the remaining 95% upon the sale of my current flat?

    Any agents have encounter this?
  • EE
    Replied
    I manage to extract the following from HDB webby:

    Taking housing loan from HDB or not taking any loan:
    You have to pay 10% of the purchase price of the flat as downpayment if you are taking a housing loan from the HDB or not taking any loan. You can use your CPF savings to make the downpayment. If your CPF savings are not enough, you will have to pay the balance in cash.

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