It depends on whether you are doing the purchase or sale first, but typically I would advise the client to do both concurrently so you need not come up with too much funds on the onset. The main costs will be the option fee and exercise fee which total up to $5k cash.
TDSR will apply as its a calculation method to ascertain how much loan you can take. I think what you meant is the Loan to Value ratio? It will not be considered as 2nd loan as its understood you are required to sell off the current HDB, hence max loan 75% is still possible. ABSD also does not apply due to the above understanding as well.
I have worked on various similar cases and would be happy to assist with the optimal approach on how to go about with this upgrade and transit smoothly.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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SMU BBM (Finance), Magna Cum Laude
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --
We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.