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Want to find out on the 2nd hdb loan. I have a 300k profit after deducting Cpf refund with accurred interest and I have no outstanding loan.

If I intend to buy resale using hdb loan. 50% of 300k to be used to reduce my next loan amount. Say I pay 50k cov for the next house purchase. Is the 50k inclusive of the 150k that I already need to side aside or I have to pay 200k in total?

If i go for bto instead, is the levy part of the 50% of the profit or I need to pay levy + 50% of profit?

Thks
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1 Answer

Mike Lim
Replied
Morning Glenn,

For resale unit, loan dispersed is based on valuation figure hence COV is excluded from the 50%.

For BTO, levy is an additional payment to reduce the benefite that second timer will enjoy, compared to the first timer. Thus it should be clear that the 50% of cash profit is exclusive of any additional cash payable.

Regards
Mike Lim
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