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If I Buy Another Hdb...

radha08
in Finance and Insurance

Featured Replies

Assuming i have HDB flat still paying mortgage and DECIDE to buy another one...if i BUY FIRST and sell my present flat later..does it mean..

1)I can ONLY apply for loan for my newly bought HDB flat with a 40% downpayment since its my 2nd LOAN...

A BIT SILLY right like that WHO can afford 40% DP with existing loan..??

Assuming i have HDB flat still paying mortgage and DECIDE to buy another one...if i BUY FIRST and sell my present flat later..does it mean..

1)I can ONLY apply for loan for my newly bought HDB flat with a 40% downpayment since its my 2nd LOAN...

A BIT SILLY right like that WHO can afford 40% DP with existing loan..??

Are you referring to buying new flat or resale flat? I think it's different ball game.

  • Author

Are you referring to buying new flat or resale flat? I think it's different ball game.

sorry buying resale...

Assuming i have HDB flat still paying mortgage and DECIDE to buy another one...if i BUY FIRST and sell my present flat later..does it mean..

1)I can ONLY apply for loan for my newly bought HDB flat with a 40% downpayment since its my 2nd LOAN...

A BIT SILLY right like that WHO can afford 40% DP with existing loan..??

Speak it all:

- Policy maker favours who are rich, one view.

- Another view: if everybody keeps buy, sell, buy, sell without "barriers" set...what will happen?

- Third view: even can "stretch" to get 2nd loan with 40% DP, "WHO" suffer/gain at the end of the day?

So, what's the problem?

  • Author

Speak it all:

- Policy maker favours who are rich, one view.

- Another view: if everybody keeps buy, sell, buy, sell without "barriers" set...what will happen?

- Third view: even can "stretch" to get 2nd loan with 40% DP, "WHO" suffer/gain at the end of the day?

So, what's the problem?

NO problem just enquiring....and Exploring options...

Are you sure you can own 2 HDB at the same time?

Life is always cruel, bro.

Emotions & needs are the sources of "problem".

Stay one, buy another, sell away the one stayed within 6 months after buying. That is the rule all must follow. Simple doesn't mean easy, remember.

Assuming i have HDB flat still paying mortgage and DECIDE to buy another one...if i BUY FIRST and sell my present flat later..does it mean..

1)I can ONLY apply for loan for my newly bought HDB flat with a 40% downpayment since its my 2nd LOAN...

A BIT SILLY right like that WHO can afford 40% DP with existing loan..??

hi radha08 :),

For my case its a bit similar to what you are enquiring. My current flat's HDB completion 2nd appt will be end Dec. But the flat I am purchasing will be doing 2nd appt at HDB in mid Nov. Only thing is I am taking bank loan and you have to show that your current flat's option is exercised during your first appointment at HDB then you can take 80% bank loan. If you have enough CPF for the 15% downpayment for your purchased flat then you wont need a bridging loan. Otherwise you will need a bridging loan. But do remember to make sure you have enough cash for the COV + 5% cash (required by bank loan) otherwise you can only use Contra method to buy your HDB flat.

Edited by BlurryKid

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