Need Some Help Here

[thunderca 0]

Hi everyone,i need some help here. If i already bought a EA and 5 yrs down the road i decided to sell off the flat and downgrade to a 4 or 3 room flat will it be possible? Is there any levy if i buy the smaller flat from resale market? Can i still take loan from hdb?

[zirhk3355 1]

Yes, you can downgrade but there will be a levy. Whether you can take loan will depend on your eligibility, which got several factors, eg owns private property, how many loans you had taken, etc.

All these info are available on HDB website leh...

[HSH21 1]

Hi everyone,i need some help here. If i already bought a EA and 5 yrs down the road i decided to sell off the flat and downgrade to a 4 or 3 room flat will it be possible? Is there any levy if i buy the smaller flat from resale market? Can i still take loan from hdb?

No... I sold my EA and downgrade to a 5 rooms and I never pay any levy... but I never get loan from HDB..

Edited September 20, 2007 by HSH21

[applefreak 1]

think levy is only payable if you are getting a NEW flat from hdb

if you buy resale no need to pay levy even if you are taking hdb loan...

[thunderca 0]

Yes, you can downgrade but there will be a levy. Whether you can take loan will depend on your eligibility, which got several factors, eg owns private property, how many loans you had taken, etc.

All these info are available on HDB website leh...

Hi zirhk3355 i went to hdb website but still cant find the relevant info i need. Maybe u can help by sending me the link? Thanks.

think levy is only payable if you are getting a NEW flat from hdb

if you buy resale no need to pay levy even if you are taking hdb loan...

Hi applefreak so u mean i can take the concessionary rate for the loan from hdb after i downgrade to a smaller flat? Cause i heard from a property agent telling me that i muz get loan from bank and i cant get any concessionary rates from hdb if i downgrade.

[gohkm 1]

Hi everyone,i need some help here. If i already bought a EA and 5 yrs down the road i decided to sell off the flat and downgrade to a 4 or 3 room flat will it be possible? Is there any levy if i buy the smaller flat from resale market? Can i still take loan from hdb?

You can downgrade but u must pay levy once u buy a new flat. u also not eligible for any hdb loan cos u can take hdb loan only if u upgrade.................

[thunderca 0]

You can downgrade but u must pay levy once u buy a new flat. u also not eligible for any hdb loan cos u can take hdb loan only if u upgrade.................

Hi gohkm do u noe how much will the levy be to downgrade from EA to maybe 4 room flat?

[therat 18]

Hi gohkm do u noe how much will the levy be to downgrade from EA to maybe 4 room flat?

should be $50K or $25k depend ur grant is take full or half.

Flat Type of

Subsidised flat

Resale Levy payable by Family Grant Recipients

2-room 3-room 4-room 5-room Executive

$15,000 $30,000 $40,000 $45,000 $50,000

Resale Levy payable by Half-Housing Grant Recipients

2-room 3-room 4-room 5-room Executive

$7,500 $15,000 $20,000 $22,500 $25,000

Edited September 24, 2007 by therat

[raincole 0]

Hi zirhk3355 i went to hdb website but still cant find the relevant info i need. Maybe u can help by sending me the link? Thanks.

Hi applefreak so u mean i can take the concessionary rate for the loan from hdb after i downgrade to a smaller flat? Cause i heard from a property agent telling me that i muz get loan from bank and i cant get any concessionary rates from hdb if i downgrade.

You can't take the HDB loan. If the smaller flat is resale, then you dun have to pay resale levy either, unless you want lar.

[gohkm 1]

Hi gohkm do u noe how much will the levy be to downgrade from EA to maybe 4 room flat?

let me be clear again, u downgrade from EA, there is no levy if u buy a resale flat but u cannot borrow from hdb, cos u downgrade. Before u can buy a resale, u must submit HLE to hdb to tell them theres a bank willing to lent u money. lets say u buy a new flat from hdb, u must pay 50k levy. U might need to apply bridging loan if u dont have the money. Once again u must apply for bank loan cos u downgrade. Again HLE is needed. Tu

[hello88 2]

1st resale flat, took grant & eligible for HDB housing loan

2nd resale flat, no more grant but still eligible for HDB housing loan if u're upgrading

Years later, u might decide to apply for a new flat from HDB, then u need to pay the Cash Levy from that 1st resale flat u sold PLUS the interest accummulated from the year u sold your 1st flat to the year u apply for the new flat

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat, a resale but still eligible for HDB housing loan if u're upgrading

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat also from HDB flat & eligible for HDB housing loan if its bigger flat BUT U NEED TO PAY CASH LEVY AFTER U SELL OFF YOUR FIRST FLAT

[thunderca 0]

let me be clear again, u downgrade from EA, there is no levy if u buy a resale flat but u cannot borrow from hdb, cos u downgrade. Before u can buy a resale, u must submit HLE to hdb to tell them theres a bank willing to lent u money. lets say u buy a new flat from hdb, u must pay 50k levy. U might need to apply bridging loan if u dont have the money. Once again u must apply for bank loan cos u downgrade. Again HLE is needed. Tu

Thanks gohkm i got it now.Pardon me for being such a noob

1st resale flat, took grant & eligible for HDB housing loan

2nd resale flat, no more grant but still eligible for HDB housing loan if u're upgrading

Years later, u might decide to apply for a new flat from HDB, then u need to pay the Cash Levy from that 1st resale flat u sold PLUS the interest accummulated from the year u sold your 1st flat to the year u apply for the new flat

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat, a resale but still eligible for HDB housing loan if u're upgrading

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat also from HDB flat & eligible for HDB housing loan if its bigger flat BUT U NEED TO PAY CASH LEVY AFTER U SELL OFF YOUR FIRST FLAT

hello88 and raincole thanks for ur info.Appreciate it very much.Cheers.

Edited September 26, 2007 by thunderca

[raincole 0]

1st resale flat, took grant & eligible for HDB housing loan

2nd resale flat, no more grant but still eligible for HDB housing loan if u're upgrading

Years later, u might decide to apply for a new flat from HDB, then u need to pay the Cash Levy from that 1st resale flat u sold PLUS the interest accummulated from the year u sold your 1st flat to the year u apply for the new flat -> only if sold before a 19xx. Check HDB website. If the sale took place after the new change in levy, just pay the fixed amt.

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat, a resale but still eligible for HDB housing loan if u're upgrading

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat also from HDB flat & eligible for HDB housing loan if its bigger flat BUT U NEED TO PAY CASH LEVY AFTER U SELL OFF YOUR FIRST FLAT

HDB housing loan only if income doesn't exceed 8k.