Anonymous

24 Aug 2022

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Will bank loan 75% of purchase price of resale HDB (2nd Property) while there is an existing loan on 1st private property?

Hi, planning to "right size" from condo to resale hdb and thinking about bridging the financing for resale HDB (2nd property). Will bank allow loan up to 75% of purchase price of resale HDB (2nd property) while still paying for the loan of 1st privcate property (condo)? The understanding is upon buying a resale HDB, must sell away private property (1st property) within 6 months. Appreciate guru's advises. Thank you!

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1M45

Edited 24 Aug 2022

45% LTV for 2nd house.
Better sell 1st. Unless u have ton of cash sitting around.
Secondly, what if u cant sell in 6mth? The price offered is not what you want. Buyer can low ball you, becoz now u MUST sell.

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