Asked by Ms. Catherine
I've a fully paid up HDB unit and also met MOP. I'm thinking about upgrading to a newly launched EC. Not sure abt procedures or policies that will affect my situation. I'm currently living in the US with family (all Americans except me). (1) Will I be qualified for an EC if my husband's income is > $12,000pm, I'm not working? (2) Do we have to sell our US primary residence upon booking an EC? If yes, we'll transfer ownership to our grown up children? (3) Can I apply for HDB loan (2nd for this purchase) or bank loan? (4) Can I get CPF grant (1st timer)? (5) If either income ceiling or unemployment makes me unqualified for EC, can it be a cash deal, would prefer to get HDB loan? (6) I'll probably move back to SG to live in EC to fulfill the 5-year MOP while renting out rooms like present HDB sublet policy. Is this feasible? (7) After 10 years can my children inherit the property? (8) Is this a smart investment? I'm getting a good return on current unit as retirement income (mid 50s).
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