Asked by Anonymous
Me and my parents own a 4 room hdb flat at 505 Jelapang road.
Bank loan balance $140k
My parents contribution from Cpf to the flat - $95k
My Cpf contribution to the flat - $110k
Q1 - i need to know roughly how much can we sell? Rough estimation of the proceeds do we get after returning to the bank, cpf, admin fee, legal fee, agent fee.
Q2 - i intend to get my own flat with my finance, is it possible for my parents to purchase 2 or 3 room flat with my 21 yrs old brother? I have got the approval letter from cpf for my parents to use the cpf to purchase another flat instead of returning to retirement account. My brother has just started work for 2 months and his salary include OT is est 2.5k (before Cpf deduction)
Note : my parents has already used their 2 chance for hdb loan, hence only solution will be bank loan. Any chance that the bank will approve the loan to my brother and parents while i can be the guarantor. My monthly salary is 4.5k.
I would like to seek your advic
Bank loan balance $140k
My parents contribution from Cpf to the flat - $95k
My Cpf contribution to the flat - $110k
Q1 - i need to know roughly how much can we sell? Rough estimation of the proceeds do we get after returning to the bank, cpf, admin fee, legal fee, agent fee.
Q2 - i intend to get my own flat with my finance, is it possible for my parents to purchase 2 or 3 room flat with my 21 yrs old brother? I have got the approval letter from cpf for my parents to use the cpf to purchase another flat instead of returning to retirement account. My brother has just started work for 2 months and his salary include OT is est 2.5k (before Cpf deduction)
Note : my parents has already used their 2 chance for hdb loan, hence only solution will be bank loan. Any chance that the bank will approve the loan to my brother and parents while i can be the guarantor. My monthly salary is 4.5k.
I would like to seek your advic
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