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I am a single lady of over 64. I have one commercial property in International Plaza, which is my monthly income. I am a Singapore citizen & currently I am renting an HDB flat. I would like to buy a 2 bedroom HDB. Can I do that considering I have a commercial property ? What is the procedure of buying one & how long will it take , before I can buy a new HDB ? My income is about $3000/ thank you.
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1 Answer

Mike Lim
Replied
Morning Anisa,

There's no restriction on purchasing of resale HDB unit even though you own a commercial property. The issue would be, would any bank be willing to provide you with the mortgage loan that you require, based on your age? And if there's bank that is willing to loan you till the age of 75, you can only get 60% loan where 10% downpayment have to be in cash and 30% in either CPF or cash. Hence it would be good to work out on which estate you are looking into, how much loan you might need, before we move ahead.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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