AskGuru Q&A Community

Question

HDB Questions

Asked by Loo 24 Feb 2012

We bought a resale 4 room flat in 2004 with CPF Grant. Can we downgrade to 3 room resale flat (open market)? Is there any income ceiling?

799 views

Upvote Upvoted

2 Answers

Previously Asked Questions

Mike Lim · Answer 1 · 2012-02-25T14:42:42+08:00

Mike Lim

Replied 25 Feb 2012

Afternoon Loo,

You are allowed to downgrade as you have fulfilled your MOP. To finance your resale unit with bank loan, there's no income ceiling. To get another HDB loan, your combined income should not exceed $10k and 50% of your sales profit need to be used for the new unit, along with your CPF monies, before HDB will loan you the balance.

FYI
Mike Lim
96929209
ERA Read More

1

Upvote Upvoted

Goh Eugene · Answer 2 · 2012-02-29T02:09:11+08:00

Goh Eugene

Replied 29 Feb 2012

Hi

Me and my team are offering attractive packages for buying and selling hdb flats. Please do call me for more information

Eugene goh
84281001
Dwg ( gta united ) Read More

Upvote Upvoted

AskGuru Q&A Community

2 Answers

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

AskGuru Q&A Community

Want this question answered?

2 Answers

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours