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Hi,

You need to have fulfil your MOP of 5years for HDB. Do you still have an outstanding loan for the HDB?

If not, for your case, a SC-SPR household without any housing loan, the breakdown as follows:
Cash 5%
CPF 15%
Max bank loan 80%
Stamp duties (BSD + ABSD) 13%

Also, both parties have to set aside 1/2 of their cohort minimum sum (ie 77.5k) in each individual CPF account before they can use excess CPF for housing. May I understand which project were you considering? Thanks and hope to understand your housing requirements so to.value-add further.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Good evening!

In order for HDB owners to purchase a private property, both of you must first fulfill the minimum occupation period applicable.

As one of you is a SPR, the additional buyer's stamp duty applicable will be 10%. And if both of you have utilized CPF OA funds for current HDB, you must set aside a minimum sum of $77.5k in your CPF OA + SA first before you can use the excess to purchase a private property.

As for mortgage wise, depends whether do you have any outstanding loan.

Yes, can loan up to 50% for private property purchase. 50% downpayment: 25% cash and 25% CPF OA funds or cash if shortfall if no outstanding loan, you can loan up to 80%. 20% downpayment: 5% cash and 15% CPF OA funds or cash if shortfall.

Other expenses will be: 3% buyer's stamp duty, legal fees, valuation fee, stamp duty for mortgage etc.

Hope my explanations help!

If you need any assistance in your property purchase, feel free to contact me.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Evening,

First, you will need to fulfill the MOP requirement for the HDB unit.
Second, if you current unit still have outstanding mortgage, both of you can only obtain max of 50% loan.
Third, if the unit is purchased under your name, ABSD of 7% is payable. If it's purchased with your spouse or by your spouse, who is SPR, ABSD of 10% is payable.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good day to you Ms,

Is there any outstanding loan or has your hdb been fully paid for?

If no outstanding loan, you should be able to take an 80% loan. If there is an outstanding loan, you should be eligible to take up a 50% loan (2nd pty).

Should you decide to purchase the condo under your name, additional buyer stamp duty will be 7% while if you purchase with your husband ABSD will be 10%.

May I understand which condominiums are your particularly interested in? What are your preferences?

Look forward to hearing from you so that I can assist you accordingly.

Best Regards,

Tan Han Wei Leonard
ERA Realty Network Pte Ltd
BSc Management (UOL)
www.leonardtan-property.com
 9150 1162  Read More

Hi,

Few points to consider:

1. Have you met your Minimum Occupation Period (MOP)?
- You can purchase a 2nd property (Private) if you have met your MOP. If purchasing under your name (SC), you will incur a 7% Additional Buyer Stamp Duty (ABSD). If buying under your spouse's name (SPR), it will be a 10% ABSD. If purchasing under both names, the higher will apply.

2. Do you still have outstanding mortgage loan?
You can only borrow up to 50% of the property value if you have outstanding loan. If your mortgage is left with just a small sum, I would suggest you pay up in full. This will allow you to take up to 80% loan for your next property.

3. Required to set aside minimum sum (OA +SA = 77.5K) in buyer's CPF account before you can use the excess in your OA acct for your 2nd house.

4. Other fees includes 3% Buyer Stamp Duty, legal fees, etc.

Before you jump into looking at which property to buy, I would suggest that you evaluate your property portfolio first and work out the finances involved. I would be glad to assist you in the above.

My team have successfully helped many clients restructure their property portfolio and I would suggest that we can arrange for a non-obligatory meet-up to allow me to share more about the strategies and what are the options available for you.

Cheers,
Vera Wang
 8777 7907 
wangvera88@gmail.com
PropNex Realty Pte Ltd Read More

Dear Madam,

Essentially, I suppose many of my fellow professionals have highlighted what are the general considerations and financial obligations involved for the plans to purchase a condo while keeping your HDB. Would it be more sensible to purchase a condo, sell your HDB and re-divert the cash into a commercial/industrial property with good rental yield instead of paying the ABSD for the purchase? Allow money to roll instead of paying the government additional taxes.

Let me know if you think this is a feasible idea and we can make arrangements for further discussion and proceed.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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