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Which is better? I've cash $350000, should I buy a condo at 1.1 million, then rented out my 3rm HDB flat at $2500/mth or sell the HDB flat at $400000 and use the money to pay off the loan so I borrow lesser loan?
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2 Answers

Mike Lim
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Evening,

I agreed with all the property advisor's advice. The major concern are: has your unit fulfilled the MOP yet and is your HDB unit fully paid for?
$350k of $1.1m is only around 31%. If your HDB is still on mortgage loan, bank can only grant you a max of 40% loan.
If you were to loan $750k for 30 years @ 2% per year, your monthly installment is around $2780. This are the few factors that you need to consider into.

FYI
Mike Lim
 96929209 
ERA Read More
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Catherine PANG
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Recently my client bought a condo while 'holding' on to a HDB flat. She need the 'funds' and hence, has to sell the HDB unit. The S&P process needs careful and confident planning. Call us if you need an opinion.
www.catherinepang.com Read More
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