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We bought a resale 5 room HDB on 2005. We still have outstanding bank loan 170k currently. If I plan to buy a private condo or EC (budget ard 850k), are we able to get 80% home loan from bank with this outstanding home loan?
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1 Answer

Mike Lim
Replied
Afternoon Chan,

Under the current MAS ruling, anyone with existing mortgage loan can only get 60% loan for second purchase. Do also note that if your current unit utilise CPF for payment, you have to keep CPF minimum sum of $71k before you are eligible to use the balance.

FYI
Mike Lim
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