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Hi, in order to be eligible for 80% loan, you cannot have any outstanding property loan on hand. Hence you need to wait till completion of your sales for your hdb in order to buy a pte.

Feel free to contact me if you need any assistance.
Tricia Tan
 92700867  Read More

Hi,

If u require the cash proceeds from the sale of your HDB in order to have the 5% cash for downpayment, the answer will be yes.

Besides the 5% downpayment, you also have to take into consideration of the stamp duty cost as well. Prior to committing to any unit, it will be advisable to get your Approval-in-Principle (bank loan) done to ensure that you are eligible for the loan.

We will also need to take your CPF available amount into consideration. Aside to the cash/ downpayment issue, your lodging will also have to be taken care of in between selling your HDB and taking posession of the new condo unit.

Do contact me at 8298 3379  or jenna.tong@yahoo.com.sg should you have more queries or would like to give me an opportunity to assist you in your housing issues.

Thank you!

Best Regards,
Jenna Tong
ERA Realty Network Pte Ltd
www.jennatong.com Read More

Hi Mr Poh,

You will need your 15% CPF, 5% cash and stamp duty in cash when you exercise the option when you buy private property, this is based on assumption that you are eligible for 80% loan. If based on 70% loan, the figure will 20% CPF, 10% cash and stamp duty in cash. If you are not able to come up with this amount, you will need to sell your current HDB first.

Another factor that you need to take note of is that you will need to place to stay for about 3 months after you sell your HDB.

Please contact me to provide me with more detail so that I can you advise on issue such as timeline and financial accordingly.

Hope I had answered your question.

Feel free to contact me if you required any assistance.

Thanks and Regards
Johnny Goh
Group Director
Dennis Wee Realty Pte Ltd
Licence number R018297H
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More