In order to be eligible to purchase a private property and keep existing HDB, your household must have at least one Singaporean and fulfilled minimum occupation period.
Do take that you are only eligible to take up to 50% bank loan as you have an outstanding loan. Max loan tenure is 30 years or up to retirement age of 65 years old.
In addition, if you have utilised CPF OA funds in your current HDB, you have to keep a minimum sum before you can use the excess in the second property purchase.
If you are a Singaporean, you will be subject to 7% additional buyer' stamp duty which means your initial outlay will be 60% (50% downpayment and estimated 3% buyer's stamp duty as well).
Your budget should be around $750k.
If you decide to fully pay off your HDB, you will be able to loan up to 80%. Your budget will increase up to $1m.
Hope my explanation helps!
If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171
To purchase a 2nd property and keep both hdb and condo, you need to have at least 1 SC in the hdb household ownership and have met your MOP of 5 years.
Ideally you should pay down your hdb loan fully so you can loan up to 80% for your next property. ABSD will also apply. Thanks and hope to understand your requirements further so to make better recommendations.
For investment, go for potential high rental project. Fyi, the max loan amount for the 2nd loan is only 50%. May I assist to compute your financial for the purchase. This will include your estimated loan amount, CPF OA and cash.
To assist and advise you more in details, kindly drop me an email for me to share.
I am contactable at my mobile or email.
Any potential investor horizon should be set on attractive rental yield and lucrative capital appreciation , be in in any economic cycle. Thus, location and attributes is key to illustrating that strong economic front. The first step forward is definitely the loan eligibility to asses the loan quantum, after which I will be in a better position to construct the financial computations & progressive payment to ascertain which residence options will value add your property portfolio.
I have led many investors in their purchases and will be glad to assist you similarly with the payment timeline and procedure. To add, there is no agent fees involved and I will walk you through the entire process step by step ; from shortlisting to negotiation to paperwork to admin/legal matters and more! Do visit my website for my latest awards and testimonials @ www.kumarrai.com. Thanks!
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top1% of ERA)
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ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
2015 Feb/ April/May/June/ July/ August ERA Top Achievers
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This budget would allow you to purchase 3 bedder at suburban area, 2 bedder at city fringe or 1 bedder at core central region.
Feel free to call for further discussion or email for a list of carefully shortlisted properties based on your specific criteria.
Senior Marketing Manager
CEA Reg No. : R051311G
Huttons Asia Pte Ltd
Mobile: (65) 9628 0661
Property Listings :http://www.findnewlaunchsg.com/