Asked by B P Wong
I have a HDB flat which is now valued around $650K. I have an outstanding loan of $230K. I have $10K in my CPF ordinary and cash $270K. I intend to keep this HDB and buy a 2nd property worth around $1.2 mio. I understand the current ruling stipulate LTV for 2nd mortgage loan to be capped at 60% LTV max. If is it better to pay down the HDB loan, and so the 2nd property will allow me a 80% max LTV financing for the 2nd property.... But if I pay down the outstanding mortgage loan, there will not be much left for me to even look at any 2nd property. Thank you very much!
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