AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I am living in a HDB 5 room flat now, and I will finish my housing loan in about 3 years time. My husband and I are contemplating to get either;

1. A studio flat for investment or;
2. A 3 bedroom condo/apt to live in

Is it possible to service the new apt with CPF also? I mean, with cash now, and later with CPF after we finised servicing our HDB loan? What are the initial charges incurred for the downpayment of the condo? Is it possible to ask for bank loan for that down payment?
0 •
881 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

J.A. Goh 吴永益
Replied
Hi Ms. Joelle,

Private property prices are dropping and this year should be a good time for you to upgrade to a condo. This is my opinion.
First 5% will have to be cash, next 5% you can take from CPF and loan 90% from bank for your condo purchase. However, I suggest that once you eyed a condo unit, you should talk to the bank officer first to assess your loan. Get the letter of loan approval from bank first.
As prices for HDB are still stable meantime, you should sell.

Do drop me an email or you can call me directly for more discussion. No obligation.

Thanks & Best Regards
J.A.Goh - ERA
HP: 9639 0350 
Email: gohja@singnet.com.sg Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions