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Evening Vivi,

If your current HDB unit is still under mortgage loan, you can only get 60% loan for the purchase of private property. If you have used CPF to pay for your current HDB unit, you are required to set aside the required CPF minimum sum of $71k. If both of you are PR, you might need to prepare additional 3% for ABSD. With these issues on mind, you will require at least 10% cash and the balance 30% in CPF or CPF + cash. Assuming you are purchasing a unit at $800k, you will need $320k at hand, excluding ABSD.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Vivi,

Of course you may but only provided you have fulfilled the applicable minimum occupation period of your HDB.

Since 5 years have passed, you should have cleared the MOP.

You can purchase a private property without selling off your HDB once you clear the MOP.

But do you still have any outstanding loan?

If you do, you can only loan up to 60% from banks and if you decide to take up a loan tenure that exceeds the retirement age of 65 years old, it will be 40%. If no housing loan at all, it will be 80%.

Thus I will recommend to introduce some bankers to you to advise you on your approval in principle (AIP-to see how much loan you are able to get). It's good to know about your budget before purchasing another property so you wont over stretch.

Cheers! Hope it helps!

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More