AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I m a SC n my wife is SPR. We hv a resale HDB flat with 107k outstanding loan. We intend to buy a new HDB flat under SOBF. The cost of d new flat is abt 335k our current flat can fetch abt 450k. But our balance OA CPF is only 17k. Hw do we go abt it? Contra? Bridging loan?
0 •
815 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Jerry Phoey
Replied
Hi Dylan, Firstly, Option Fee to book the Unit for 3rm-$1000 while 4/5rm-$2000. To successfully book a SOBF, downpayment of 10% or 20% cannot be form by means of Contra/Bridging Loan. Under HDB loan, downpayment 10%(CPF&Cash) provided you are still eligible & if you are allowed up to 90%loan. If Bank loan, downpayment 20%(CPF&Cash5%) with up to 80% loan. However, there are other implications for each individual's housing status that require verification. Drop me a call if you need more clarifications as I just handled similar case like yours. No obligation. Regards Jerry Phoey HP: 9630 1615  HP: 9630 1615  Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions