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HDB Questions

Asked by Angel 20 Apr 2012

If I m upgrading to a new flat must I use the 50% of the cash proceed from my sale of flat to my new flat.....is it a must....the hle loan amount is abt 90% of my new flat price

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Ander Ang · Answer 1 · 2012-04-20T09:54:53+08:00

Ander Ang

Replied 20 Apr 2012

Hi Angel,

It is a must if you are taking up a 2nd HDB loan for the next flat purchase.

If you want to keep more cash, should consider taking bank loan, to take advantage of the low interest rate.

If you need further discussion, pls call me at 98628691 .

Thanks,
Ander ERA Read More

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Mike Lim · Answer 2 · 2012-04-20T10:24:08+08:00

Mike Lim

Replied 20 Apr 2012

Morning Angel,

If your current unit is on HDB loan, hence using second HDB loan for your new purchase, YES. You must use 50% of your cash profit to pay for the new unit. Your loan amount will be purchased price - available CPF (inclusive of CPF refund from sales) - 50% cash profit.

FYI
Mike Lim
96929209
ERA Read More

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