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i have 20k cpf, 70k cash
just started new work with monthly income 4k
35 years old single citizen

planning to get a 3-rm resale hougang nearer to parents.

Is it possible to easily get a loan?
After buying, can i move my parents to this new unit and rent out the existing old one?

If there is a chance for me to work and stay in another country on and off within the next 5 years after i purchase the new unit, is it possible for HDB to allow me to rent out this new resale unit?
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1 Answer

Mike Lim
Replied
Evening,

This is unit your first purchase? If so, you should be eligible for $20k grant, for staying near parents. You can also apply for HLE, to finance the unit.
If you parent's unit have fulfilled it MOP, yes, they can apply to rent out their unit and stay with you.
If you are offically posted overseas to work, you can apply through the HDB to rent out your unit. However, do note that the offical renting out period would not be included into your MOP.

FYI
Mike Lim
 96929209 
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