AskGuru Q&A Community

Good morning buyer,

As you have an outstanding housing loan, you only be able to loan up to 50% (lower of purchase price/ valuation) - 50% downpayment: 25% cash; 25% CPF OA/ cash. If you manage to clear it before purchasing second property, you will be able to loan up to 80% (20% downpayment: 5% cash; 15% CPF OA/ cash).

Do take note that you will be subject to additional buyer's stamp duty of 7% as a SC and you have to keep a minimum sum of $77.5k in your CPF OA + SA before you can use the excess in the property purchase.

Maybe you can share more information so I can further advise you.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi, it will be more clear if I can share with you some financial planning base on your capability.

I am reachable at my mobile or WhatsApp.

CK Ang
 90463808 
Vestor Realty Read More

Afternoon,

Since you have existing loan, you can obtain max of 50% loan. 25% down payment must be in cash and balance 25% can utilize CPF, provided that you have set aside the CPF minimum sum required. If you are SC owner, you will need to also prepare 7% ABSD, payable in cash, on top of the standard stamp duty.
However, upon settling the HDB loan prior getting a loan for your second property, you can get max of 80% loan where 5% must be in cash and balance 15% can utilize CPF. Setting aside of CPF minimum sum and ABSD are still required.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More