radha08 1 Report post Posted August 31, 2012 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..?? Share this post Link to post Share on other sites
MrsLoo 1 Report post Posted August 31, 2012 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. Share this post Link to post Share on other sites
radha08 1 Report post Posted September 1, 2012 Are you referring to buying new flat or resale flat? I think it's different ball game.sorry buying resale... Share this post Link to post Share on other sites
bepgof 20 Report post Posted September 2, 2012 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? Share this post Link to post Share on other sites
radha08 1 Report post Posted September 2, 2012 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... Share this post Link to post Share on other sites
Lauer 15 Report post Posted September 2, 2012 Enjoy! Share this post Link to post Share on other sites
Minerat 1 Report post Posted September 2, 2012 Are you sure you can own 2 HDB at the same time? Share this post Link to post Share on other sites
bepgof 20 Report post Posted September 2, 2012 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. Share this post Link to post Share on other sites
Lauer 15 Report post Posted September 3, 2012 Enjoy! Share this post Link to post Share on other sites
BlurryKid 0 Report post Posted September 11, 2012 (edited) 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 September 11, 2012 by BlurryKid Share this post Link to post Share on other sites
