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My hubby & I bought a 5I previously at abt $550k at Sengkang opposite MRT high floor unblocked,using our 2nd HDB loan with no grants (I believe so. How can I confirm?) We intend to buy another resale hdb either same size or downsize to 4RM. We do not wish to fork out cash outlay if possible. What resale price should we be looking at considering the cpf and interest pay back? Any chance if profiting from the sale n purchase ?
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6 Answers

Dear madam,

Unfortunately we won't be able to provide the answers you are looking for as the information provided is insufficient for us to work out the finances for you.

Nevertheless, in general, you should be able to estimate the proceeds from sale from the estimated selling price deducting the outstanding loan as well as the CPF utilised including the accrued interest. The balance amount will be your sales proceeds. In terms of your next resale purchase, since you have already utilised HDB loan on 2 occasions, your financing option for the purchase will be via the bank loan, where the loan to value limit will be at 75% maximum.

The locked in funds for HDB asset is 1 major reason why many consumers have looked into the purchase of a private residential home, as it provides more options to like remortgaging the property for cash to be used for other purposes, which HDB is unable to.

If you need further assistance in your plans, feel free to get in touch with us and schedule for a private discussion without obligations.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
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1
Hi there,
Thank you for your question.
Singaporeans are allowed to take up to 2 HDB loan. Since you already have taken 2 HDB loan, your next purchase will be using a private loan. For private loan, a minimum of 5% of the loan must be paid in cash first.
You can check with HDB on the grants that you have taken.
If I can be of assistance, do drop me a text or call me at 94508732 . I will need your address to evaluated the value of your property.
I hope to hear from you soon.

With regards,
Andik Imran (R061801F)
PropNex Realty Pte Ltd
(M) +65 9450 8732  Read More
1
Dear Mdm,

For grant, you may confirm with HDB by checking with them whether you took a grant when you purchase your current flat. If your next house is a resale flat, you dont have to worry about the resale levy even if you have took the grant cos the levy is not applicable.

For the sale and purchase, it is certainly possible not to fork out any cash. However, it will be recommended to draw up a financial plan taking both the sale and purchase (loan amount and CPF used plus interests) into account before I can give you further advice.

I have assisted many of my clients in the same situation as yourself to transit smoothly from one flat to the other. Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
1
Robbie Chen Chee Howe
Hi Mdm,

As you have already taken twice HDB loan, I'm afraid there will be Cash involved.

Should you sell your current flat and then purchase another HDB flat, you will need to take a bank loan for the purchase. This means that you can loan up to a max of 75% instead of 90%. You will also need to fork up minimum 5% Cash as downpayment for the flat, while the balance 20% can be from your CPF.

I am experienced and well-versed in HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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OHMYHOME PTE LTD
Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009 .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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