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Evening Tan,

Having an existing mortgage would mean that you can only get maximum loan of 60% if your upcoming mortgage tenure is not more than 14 years. 10% must be cash and remaining 30% can be a mixture. If you are looking at longer loan tenure, bank can only grant you max of 40% loan where 10% is cash and 50% can be combination of both cash and CPF.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Tan,

You can only able to obtain a bank loan up to 60% as you have existing housing loan at the moment and if you take up this loan with its loan tenure not exceeding the retirement age of 65 years old.

If you take up any loan that exceeds 65, you will only be able to loan up to 40%.

but if you consider to sell off your current HDB and then buy a 2BR condo, you will be able to use any possible sales proceeds from your HDB to cover your new condo purchase and you will be able to obtain up to 80% from bank if loan tenure does not exceed the retirement age of 65 years old.

Feel free to contact me if you have anymore doubts.

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
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