AskGuru Q&A Community

Hi Lynn,
Below is my input to your questions.
1. You are able to stay in condo and rent out the hdb.
2. you may serve the loan via CPF as long you have enough fund on top of the min sum.
3. If both of you are the owner of the hdb, and the new condo is the 2nd property, 7% ABSD is payable.
4. yes after the contract period, you may change to another bank for a new contract.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Afternoon Lynn,

You can stay in your private property and rent out the HDB unit, upon getting approval. Max loan for HDB loan is 25 years or 65 years of age, whichever come first. Buyer stamp duty of 7% is payable by cash. As for the refinancing, it would depend on sitation and market movement.

Do contact me further for detail discussion.

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

Hi,

As long as you are SC and have MOP of 5 years, you can purchase private and rent out HDB. The loan tenure max age limit is typically till 65 years old, whether by CPF payments or not. You will be liable for 10% stamp duties owing to the extra ABSD on 2nd property. Please take note there are also minimum sum requirements to be met. I will be glad to share more about the financing planning aspect. Sibor packages are competitive now hence refinancing at the right time is advantageous. Thanks and may I understand your housing plans further so to further value-add?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi,

Let's catch up and have a more interactive discussion to address all your questions comprehensively. I believe that will work as a more effective means to pursuing your intentions.

Do contact me at 96659926  for us discuss further on your requirements comprehensively to understand the crux of your expectations as well as to enable me to deliver a more accurate financial projection and breakdown of cash flow for your purchase.

As you know, purchasing a property is likened to an investment in a priced asset and as such, it requires critical and well thought through analysis and rationale before committing. As I specialize and am very active in the private property market, I would like to extend my services to assist you in your purchase. If you may not have already known, engaging a realtor to represent you in your purchase does NOT make you liable for any fees. In a nutshell, you pay nothing for my service and consultation but I assure you of handling the entire technicalities of the purchase to best protect and maximize your interest.

If you are comfortable with working with me for your real estate needs, I will be most glad to render my services, advise and expertise accordingly and go over all the procedures and regulations involved so that your purchase intention can be taken to the next level.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

About Me-
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2015 February ERA Top Achievers
2014 Overall Top Achievers
2014 Aug/Sept/Dec ERA Top Achievers
2014 3rd Quarter ERA Top Achievers Read More

Hi
Lets sit down for a 1-1 discussion in details.
I am contactable via 91442664  for a discussion. Hope to hear from you.
Tricia Tan 91442664  Read More

Good afternoon Lynn,

It seems like most of my fellow colleagues have answered most of your questions.

But do take note for refinancing of loan, it depends on whether there is any lock in period or not. If there's lock in period, you cant refinance or might have to pay penalty to refinance. There could be processing or admin fee to be incurred.

Normally banks will provide a one time waiver to refinance probably after 3 years.

Which bank do you prefer? I can check more for you.

Another thing to take note is max loan tenure is 30 years or retirement age of 65 years old.

Hope my explanation helps!

If you need any assistance or advice in your purchasing your ideal house, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More