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I own a HDB 5I (bought from resale market) and staying in the same for the last 10 years. Have an outstanding loan of 150,000. The current price would be 475,000. I used only 50,000 from my CPF and I have around 100,000 in my ordinary a/c in CPF. So, can someone suggest is there any way that I can keep HDB and buy a private condo? And is there any way that I can get 80% loan?
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1 Answer

Peng Robert
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Hi Query,

It is a wise choice to keep your HDB while buying another property, as under new rule you will not able to buy HDB anymore if you own a condo first.

With outstanding loan, what you can loan for 2nd property is 60%.

You can:

1) fully pay your outstanding loan of 150K by used up your CPF and 50K cash, and then you will be able to borrow 80%;
2) borrow 60%, and use cash + 35K CPF to pay the rest 40% (you can not able to use 100K, as there is a minimum amount needs to stay in CPF ~65K).

Welcome to contact me if you need further assistance. Thanks.

Robert Peng 9800 1968 
Robertpeng001@gmail.com
CEA reg No.: R042525J
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