Asked by David Lim
I just bought a BTO HDB flat which is less than 1 year old and on a HDB-concession loan now.
I would like to get a private property.
As the Minimum Occupation Period is 5 years for new flat and I have an existing loan with HDB, I believe I will not be able to use my CPF for the mortgage for the private property.
Question 1 : Will the bank loan i am taking for the private property still be 60% (LTV) or it is 80% (LTV)?
Question 2: Since I am not using CPF monies for the mortgage, do I still need to keep the minimum sum?
I would like to get a private property.
As the Minimum Occupation Period is 5 years for new flat and I have an existing loan with HDB, I believe I will not be able to use my CPF for the mortgage for the private property.
Question 1 : Will the bank loan i am taking for the private property still be 60% (LTV) or it is 80% (LTV)?
Question 2: Since I am not using CPF monies for the mortgage, do I still need to keep the minimum sum?
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