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HDB Questions

Asked by Anonymous 2 Oct 2011

Hi, would like to check with gurus here if holding a new HDB flat after 5 years able to purchase a private property? The HDB flat still not fully paid up yet.

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Geryl Lim · Answer 1 · 2011-10-02T20:10:52+08:00

Geryl Lim

Replied 2 Oct 2011

Once u meet your MOP, you are free to purchase another private property if you have the financial capabilities to finance the loan.

Regards,
Geryl LIM
CEA Reg R014783H
Mobile: +65-81577565
Email: lim.geryl@yahoo.com.sg Read More

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Mike Lim · Answer 2 · 2011-10-02T20:50:23+08:00

Mike Lim

Replied 2 Oct 2011

Evening,

Under the HDB ruling, upon fulifilling the minimum occupation period, you are eligible to purchase your second property.
The only concern is that with one existing mortgage loan, bank can only grant you a maximum of 60% loan, for your second mortgage loan.
Of the 40%, minimum 10% must be in cash and the remaining 30% can be either purely cash, CPF or CPF plus cash.

FYI
Mike Lim
96929209
ERA Read More

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