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HI! We bought a house under Direct sale from HDB, completion of 5 year occupation period will be sep 2013, our HDB loan outstandings will be payable for another 5 years, are we able to buy a private condo without selling my HDB, new launching private property - budget aound 700K. How many percent loan will be able to take?
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2 Answers

Mike Lim
Replied
Afternoon,

You are only eligible to 50% loan where 25% of the downpayment must be paid in cash as this is your second mortgage loan. Being SC, you are aalso liable for 7% ABSD, payable within 14 days from exercise date. If you are able to clear your current mortgage loan before purchasing your second property, you can get up to 80% loan where 5% downpayment will be in cash.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Bala S OrangeTee
Replied
Hi Karthik,
After completing your MOP, You can buy condo without selling your current house. You need to pay 7% ABSD. You can get loan only 50%, if you have existing housing loan.
For more details Please feel free to contact me
Thanks,
Bala.s
 92977650 
bala@orangetee.com Read More
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