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I am selling my resale 5rm after the MOP this mid year.(1st timer with HDB loan) After which, i will be staying at my parent's hse. Q1: If I want to buy direct new flat from HDB next year, do i need to pay levy in cash? Q2: Am I stil entitle for HDB loan or only entitle for bank loan in my next purchase direct from HDB?
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1 Answer

Paul Wong 黄逸强
Replied
Hi Anthony,

Answer to Q1: Yes resale levy of $45,000 (5rm) has to be in cash.

Answer to Q2: You're entitle to 2nd HDB loan, as long your household income does not exceed $8,000/mth.
However you'll be required to part with 50% of your cash proceed (profit from 1st flat) to reduce the 2nd HDB loan.
That's on top of your resale levy $45,000

For bank loan, minimum 5% cash and 15% from CPF, you can loan the remaining 80% (or less depending on your excess CPF O.A balance) from bank.
Get to keep most of your cash besides the levy of $45,000 and 5% of 2nd subsidised flat.

I hope the above helps to clarify your doubt, kindly contact me if you need further advice.

Your Frindly Realtor
Paul Wong
ERA Realty Netwotk
Hp: 8188-6655 
www.paulwong81886655.com Read More
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  • AT
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    Thanks, so my next Q is : when do i need to pay 45k levy? Or, if i am getting another resale flat, i do not need to pay?????

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