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I am a Singapore citizen who has been staying in my HDB flat for the last 9 years. It was bought from resale market. Can I buy a condo now as my 2nd property. How many % of loan I can get from banks..? Can I take $$ from CPF for this condo purchse...? How many % I need to come out as cash...? After buying, Can I stay in that condo and rent out the HDB flat...?
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1 Answer

Mike Lim
Replied
Morning,

You are definitely eligible to purchase your second property as you would have fulfilled your MOP requirements. As to how many % loan you can get from bank would depend on your existing unit loan status, your age and credit record. If you have utilized CPF for your current HDB unit, you are required to set aside the CPF minimum sum before you are allowed to use the balance to finance your second property. This two factors, along with your purchase price would determine how much cash you need. As for staying in private property and renting out your HDB, this would depend on your citizenship.

FYI
Mike Lim
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