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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

Hi,

Congratulations on the decision. Sure I have worked on similar cases before and have also transacted a number of 4-room, 5-room and EM in Woodlands and Yishun.

If you have already utilized HDB loan two times, you are only eligible for bank loan for the next property. For bank loan cases, there is a minimum 5% cash requirement as part of the purchase.

However, if you have sales cash proceeds from the HDB assuming a positive sale case, you can port over this amount for the next property. The timeline and financial planning is crucial to ensure a smooth transition. I be happy to value-add with my experience.

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
ERA Senior Marketing Director
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

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-- HDB Sellers of Woodlands Exec Maisonette Gaffoor & Isha --

Buying or selling property is a big decision, as we wanted to make sure our agent is someone we can trust, get in touch with, and approachable. Ivan certainly fits the bill. He was available anytime of the day to answer our queries and was with us throughout the process. We have no reservations in recommending him. Read More

Dear Sir/Mdm,

If you have taken HDB loan twice before then you will only be eligible for bank loan this time round. For bank loan, it is not possible to have zero cash upfront because 5% will need to be in cash. However, you may make use of your sales proceeds for the sale of this current 5 room flat to cover the 5% cash portion.

When it comes to selling and buying, careful planning in terms of the transition timeline and finances are required so that you are able to transit smoothly from this current place to the next one. I have personally transacted quite a number of flats in woodlands, just sold a 5 room flat recently before the circuit breaker at a very good price.

Please feel free to contact me so that I can understand your situation better before providing you with more assistance. I am also available for discussion via Zoom during the circuit breaker period!

Regards,
Nick Tan
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi

You will be eligible to apply for a bank loan.

You may want to text 9620 0827  for a casual discussion. This will enable us to understand your situation better so that we can customize the approach to sell and buy your home. Besides, we can share with you the transaction process and timeline together with the estimated financial cash flow.

Gavin Read More

Hi Sir
If you have taken 2 bank loans earlier, you are only eligible for bank loan where 5% cash deposit is required. If you make a positive sales from your 5 room unit, you can use up your cash proceeds to fund for your EM unit. In order to advise you further, more detailed information is required to see whether you can proceed with the upgrade safely. Do contact me at 93375051  for a free and non obligatory consultation on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Greetings from Ohmyhome Realtors.

First, if you have taken 2 HDB loans before, your next purchase have to apply bank loan if your CPF and or cash on hand is insufficient to cover full purchase price.

If applying bank loan, the first 5% is mandatory cash and this will form part of the 25% downpayment if your bank loan is sufficient to cover 75% of the purchase.

For more information, do contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More

Good morning Sir/ Mdm,

you will have to apply for bank loan if you had utilised HDB loan twice.

Have you done so for the two previous purchases?

If not, you still can apply for HDB loan.

If yes, you will have to apply for bank loan. While bank loan is up to 75%, you need to come out at least 5% downpayment as cash.

Have you try to appeal to HDB in regarding taking HDB loan for the third time? Do you have any particular reasons that you think its helpful towards the appeal?

#staysafe

YT TAN 陈永达 | ACCA Graduate, RES
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Propnex Realty Pte Ltd

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Hi Sir/Mdm,

First of all, congrats on your plan to upgrade! And what a coincidence, I stay in the North too!

Just to share with you a little more with regards to your questions. You will still be allowed to use your CPF even if it is the 3rd time making a purchase. As for using zero cash for the purchase, it is not really possible. Basically the rules states that the option fee max is $1,000 and the whole deposit (which includes the option fee) cannot exceed $5000. Under this rule, the minimum that a buyer needs to pay is $1 option fee and $1 option exercise fee which makes the whole deposit to be $2. Even if this is the case, sellers will not accept such terms. I feel that you need to prepare $1000 to $2000 for the whole deposit to be safe. Similarly, if today I am helping you to sell your house, I will also not advise to accept such a low deposit. In the event if the house that you have shortlisted is a very nice house and many others are also eyeing on it, then chances are sellers will want to collect the max deposit of $5,000.

As for your question on bank loan, yes you might be eligible for bank loan but the issue is, it does not not fulfil your requirements of minimum cash. For bank loans, the minimum cash that we need to fork out have to be 5% of the purchase price and 20% from CPF. The remaining 75% can be from bank loan. In the event if our CPF is not enough to cover the 20%, then it has to be topped up in cash as well. So if we purchase a house that is $600,000 for example, then the minimum cash we need to fork out will be $30,000. As you mentioned that this is your 3rd time buying so we also need to know if you have already taken 2 times of HDB loan. If you have, then you cannot take HDB loan anymore. Even if you are eligible for HDB loan, you may also need to reconsider whether is it wise to take HDB for a second time. The reason is because when you use the HDB loan for the second time, you will have to put 50% of your cash proceeds from the sale of the current house into the new house. So this will greatly affect the cash earnings that you can make from the sale. We also need to factor in things like CPF accrued interests and stuff too.

There are quite a few permutations to your scenario so maybe what I can suggest is we can actually have a chat on this. We can have a meetup over Zoom and we can discuss and advise you on your scenario. What we can do is also to help you with a financial calculation. No worries on the chat as there are no obligations at all. if you are doing an upgrade, then financial calculation and timeline planning is really very important. Hope I managed to answer some of your queries for now.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
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