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Home Financing

Asked by Anonymous 16 Dec 2012

If currently I'm using HDB loan for my current flat and the next one which I'm buying will be using bank loan. In this case do I have to put 50% of my cash margin to CPF ordinary account?

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Mike Lim · Answer 1 · 2012-12-16T21:28:54+08:00

Mike Lim

Replied 16 Dec 2012

Evening,

Upon selling your current unit, you are required to return whatever CPF + interest that you have utilized for your current unit. With the purchase using bank loan, you can then use whatever CPF OA that you have and keep the cash profit to yourself, less the 5% deposit via cash, if you get 80% loan.

Do feel free to contact me for further discussion.

Regards
Mike Lim
96929209
ERA Read More

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YT Tan (陈永达) · Answer 2 · 2012-12-17T10:54:57+08:00

YT Tan (陈永达)

Replied 17 Dec 2012

Hi,

In regards to your query, you dont have to use your 50% of your cash proceeds if you will to use bank loan to mortgage your next purchase.

Hope it helps!

Cheers!

Warmest Regards,
YT TAN
Senior 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

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