Asked by Mr. Bryan Goh
How to afford new BTO as an existing HDB Flat owner.
My Existing HDB Flat is under HDB Loan, taken at Yr1999.
Outstanding Loan amount: ~$120,000, Used CPF: ~$90,000, Flat Size: 4 Room, Area: 113 sqm
New BTO, Targeted Flat Cost: $360,000, Flat Size: 4 Room. Only allow to take up Bank Loan. Completion 4Q-2014.
Take bank loan with maximum loan of 80%, the rest 20% consists of 5% cash, 15% using CPF/Cash & 2% Legal and stamps fee.
All my CPF are already used for monthly installments and my wife CPF contribution just started.
Unable to sell current existing flat until new flat is ready near 4Q-2014.
For new BTO, estimated Lease of Agreement would be about 3~4months after the OTP has been placed. Ard Nov2013.
Will HDB allow to defer the payments of the 15% downpayment & 2% Legal and stamps fee, which i would pay with my returned contributed CPF after selling the existing flat?
My Existing HDB Flat is under HDB Loan, taken at Yr1999.
Outstanding Loan amount: ~$120,000, Used CPF: ~$90,000, Flat Size: 4 Room, Area: 113 sqm
New BTO, Targeted Flat Cost: $360,000, Flat Size: 4 Room. Only allow to take up Bank Loan. Completion 4Q-2014.
Take bank loan with maximum loan of 80%, the rest 20% consists of 5% cash, 15% using CPF/Cash & 2% Legal and stamps fee.
All my CPF are already used for monthly installments and my wife CPF contribution just started.
Unable to sell current existing flat until new flat is ready near 4Q-2014.
For new BTO, estimated Lease of Agreement would be about 3~4months after the OTP has been placed. Ard Nov2013.
Will HDB allow to defer the payments of the 15% downpayment & 2% Legal and stamps fee, which i would pay with my returned contributed CPF after selling the existing flat?
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