5 Answers


If you are referring to equity loan? unfortunately HDB units are not eligible. You be subjected to the same restrictions for citizens purchasing 2nd residential property namely:

1) ABSD of 7%
2) Setting aside 1/2 of minimum sum (ie 77.5K) before you can use any excess CPF monies for housing.

However, you will be able to obtain maximum 80% bank loan since your HDB is fully paid up. Thanks and may I understand which condo are you considering? Will be glad to analyze a reasonable entry price for your family review. Thanks and hope to have the opportunity to understand your requirements further.

Warm regards,
Ivan ERA
www.ivanng10.com Read More
YT Tan (陈永达)
Good evening,

I am afraid you have to sell off your current HDB to purchase a condo for own stay as you can't do so for HDB.

Since your HDB is fully paid, you should be able to obtain 80% bank loan. You just have to take care of the initial outlay of around 30% of purchase price if you are a Singaporean.

30% of purchase price:
1) 20% downpayment (5% cash and 15% CPF/ Cash)
2) estimated 3% buyer's stamp duty
3) 7% additional buyer's stamp duty as SC
4) legal fees, valuation fee, stamp duty for mortgage etc.

Do take note that if you have utilized any CPF OA funds for your current HDB, you have to set aside a minimum sum of $77.5k in your CPF OA + SA before you can use the excess OA funds for this purchase.

If you need any assistance in your property upgrade, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
Hi, unfortunately only private mortgage is able to refinance. In fact you have many other options. Do you like to find out the possible way to leverage from your current hdb? You could even earn passive income while owning 2 properties. Please drop me an email for me to share.

I am reachable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
Dear sir/madam,

I am unsure on why are your exploring the equity loan as an option for your purchase of a 2nd property. As shared by my fellow professionals, you will be ineligible for equity loan using a HDB. Do share more with me on your plans since having a fully paid property will entitle you to loan up to 80% for the next residential property.

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Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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