Asked by
I am looking to sell my 3-room HDB flat in Eunos in 4 yrs time when I turn 35. This is my situation:shared ownership with parents, i am an only child, completed mortgage payment,parents have exhausted the 2 times HLE so I can't take HDB loan to buy resale flat. I can't sell it now even though I would like to because I am not eligible for a HDB loan & I am not yet 35. At 35 I am eligible to buy a resale flat, if I remain single.

However, my family is frustrated at the noisy neighbours upstairs and I want to explore this: If I buy a house now & i take the bank loan for the first 5 yrs (usually the interest rates for the first 5 yrs is lower than HDB), can i convert it to HDB loan after 5 years? Is there such a possibility?

I am NOT a risk taker and do not have housing market acumen. If you can give me advice, what do you think i should do?
0
960 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Hi,

Once you have taken a bank loan for hdb, you can't convert to hdb loan again. You may want to explore the POSB HDB loan (a bank loan package), which caps your interest rates for the 1st 8 years at 0.1% lower than hdb concessionary rate, so it will not exceed 2.5%. Thanks and I'm active in the east, may I assist with your housing plans further?

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
0
Evening Liza,

If I managed to get your situation correctly, you are looking at selling the unit now, so as to be away from your noisy neighbor, and get another unit using bank loan, right?
However, you need to understand how old are your parents and if CPF minimum sum will impact your current intention. If the fundings from their CPF will be locked up, this would mean more cash component from your end.

Do contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
2014 September ERA Top Achievers Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions