AskGuru Q&A Community

Hi,

For HDB loan you can loan up to 90% of DBSS price, for bank loan its up to 80% of price.

For HDB loan, since you are selling your current flat, you should have enough CPF to cover the 10% downpayment, ie minimal cash outlay as you have mentioned.

For Bank Loan, the downpayment will be 5% cash (minimun), 15% cpf.

Please note that for HDB loan for DBSS, the household income ceiling is 8k/mth instead. For bank loan theres no income ceiling.
However, to be eligible for new DBSS, your household need to be earning 10K/mth and below, regardless of the loan you take up.

Thanks and which DBSS are you considering at the moment? The new ones with available units are Trivelis or Pasir Ris One, and both are about to TOP. Will be glad to assist and understand your housing requirements before further value-adding with financial breakdown illustration. Thanks and hope to speak soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Evening,

As this is your s come HDB loan, you will need to set aside 50% of the cash profit from the sales of your current unit. Along with your CPF OA, HDB will loan you the balance.
In certain aspect, many people do not use their 2nd HDB loan for the reason.

Do feel free to contact me for further discussion.

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