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Hi, My husband and I are looking at a condo unit with TOP in 2017. We have an outstanding HDB loan of $160K. We currently have cash of $500K from the sale of a foreign property. May I enquire the following: 1. At the time that we pay 20% downpayment for the condo unit, do we have to pay for the BSD+ABSD since we have a HDB under our name now? It would be a HUGH amount if so.. Considering to dispose of the HDB after that to get back the refund. 2. Also, do we have to repay fully the HDB loan before paying the 20% downpayment for the new condo, in order to be eligible for the 80% loan? Advice much appreciated. Thank you.
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2 Answers

YT Tan (陈永达)
Replied
Good evening, in order to be eligible for up to 80% bank loan, you must not have any outstanding loan which means you have to fully pay your HDB first. Yes you will be subject to BSD + ABSD if you decide to hold on to your HDB or still own the HDB when you purchase the private condo. Maybe you can share more information about your potential purchase and I shall work things out (financial plan) with you with the necessary advice. Cheers! YT Tan ECG Property 9111 5171  yt.lovelyhomes@gmail.com Read More
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James Jose Boo
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Hi, Have your queries been solved? If not, I suggest you can call me to meet you in person for discussion, (easier that way). I can share more of the property market with you at the same time. Now may be a good time to buy property as its a buyer market. Awaiting your call... Rdgs James Jose 93530099  Read More
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