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I own a HDB flat. If I wanna buy 2nd property (private), I gotta clear my HDB loan to get 80% loan for 2nd property right? Anything else to look out for?

How do I calculate how much I can loan and the maximum price I can buy for 2nd property?
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1 Answer

Mike Lim
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Afternoon Fiona,

In order to get 80% loan, you need to clear your current HDB mortgage loan. You are also required to fulfill your MOP requirement. If you have utilized CPF for your first mortgage, you are required to set aside the CPF minimum sum of $71k. As for how much loan you can get, you need to contact banker to assess on your credit and income status.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
CEA Registration No: R026708F
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