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HDB Questions

Asked by EC 14 Sept 2011

I have bought my HDB EM from my dad in 1998. since i would like to move out while still maintaining the EM for my parents, am i eligible to buy a pte condo now? rgds

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Mike Lim · Answer 1 · 2011-09-14T17:09:01+08:00

Mike Lim

Replied 14 Sept 2011

Afternoon,

You have purchased the unit in 1998, hence it's a good 13 year. If you never apply to rent out your EM for long period, you should have fulfilled the MOP.
Thus, you will then be eiligible to purchase a condo, and yet keep your EM. Do note that if your EM is still currently on mortgage, the bank can only loan you a max of 60%, on your upcoming purchase.

Regards
Mike Lim
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