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I am planning to downgrade to a 4rm HDB flat. Taking a bank loan is better than taking HDB loan. Fyi, This would be my 3rd purchase for a flat. The 1st using bank loan and the current one now is under HDB loan.
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1 Answer

Mike Lim
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Afternoon,

With the downgrade, you will need to get the bank to assess your loan eligibility. From there, you will know how much loan you can get. Then working on the profit from your sales, which will give your the CPF refund amount and cash profit, if any.
As your upcoming resale unit is under bank loan, you do not need to pay any resale levy and you can get to keep most of your cash profit.

FYI
Mike Lim
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