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Hi M T,

Since you have an outstanding housing loan, you are entitled to only loan up to 60% of valuation for the property you purchase, of which 10% should be in cash and the remaining 30% in cash/CPF, where this 40% makes up to about $480k.

You may wish to engage in a discussion with a banker to see if there is any possibility of other arrangement as you have mentioned that you will be selling your existing house in order to firm up your financial plans before making your next move that is to sell and buy.

Note that timing is an important issue here therefore plan carefully for your next move.

Should you require any further assistance in arrangement to talk to a professional banker to assist you in financial planning and assisting you in selling and buying, feel free to contact me.

Thank you and have a pleasant week ahead!

Regards,
Geryl LIM
CEA Reg No R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More