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I currently own a 5 room HDB flat that is fully paid. The loan was taken with HDB and paid with both my husband and my CPF accounts. We would like to get a private condominium for an investment while still holding on to the HDB. I know that the max loan we can get from the bank is 80%, and we are liable for ABSD since it's our 2nd property. What else do we need to take note of? CPF only allows utilisation of up to 120% of the purchase price, but we have already used an amount to pay for our HDB. Does this matter?
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5 Answers

Evening T.L,

To purchase your second property, you need to be SC in order to keep your current unit. Since your current unit have being paid, you will be eligible for 80% loan based on your credit and income status and age. In reference to CPF that you can use for your second property, you have to set aside the CPF minimum sum of $74k.

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