A Flat Buyer Seeking Advice

[Yeobt]

hi,

i have a few questions that needed your advice.

1. what is the max age allowed to get HDB loan? 60? 65?

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

lastly,

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

Thank you.

[Ingenius]

For questions 1 to 3 you can call hdb or visit them to get answers. Recently my bil sold their 6th floor 4 room in tampinese which is about 5 min walk to mrt for 500k.

Edited February 1, 2015 by Ingenius

[Darthrevan]

1. the maximum loan repayment period is 65 years minus the buyer’s age or 25 years..whichever is shorter

2. assuming the $1k you paid was all from CPF & you paid 20% downpayment & you took HDB loan..you'll get a profit of approximately ~$62.5k before deducting all fees/duties..please check with HDB directly..however if you paid all full cash for the $1k monthly repayment..all sales proceeds will be in cash

3. depends on your current age..the loan tenure is shorter as one grows older

[Shadowdad]

 

hi,

 

i have a few questions that needed your advice.

 

1. what is the max age allowed to get HDB loan? 60? 65?

 

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

 

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

 

lastly,

 

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

 

Thank you.

Q1. Max age for loan is 65.

Q2. If you did not use CPF. You just need to minus the outstanding loan and agent commission. If you use CPF, you have to minus the CPF you used, interest accrued, outstanding loan and agent commission. The balance is what you get back in cash.

Q3. HDB loan up to 90%, max year is 25. Interest is fixed at 2.6%. You can calulate the monthly using online calculator. Just search for it.

 

Q4. Best price ? Find a good agent should get you teh best price. Sell your self, you never know what is a good price.

 

Cheer...

[Coolpica]

 

lastly,

 

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

 

Thank you.

U may want to check out the selling price of similar HDB flats around your area on www.propertyguru.com.sg as a gauge.

[Kusje]

 

hi,

i have a few questions that needed your advice.

1. what is the max age allowed to get HDB loan? 60? 65?

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

lastly,

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

Thank you.

 

 

1. Not sure, please check HDB

2. Selling price - outstanding loan (check with bank) - CPF used (log on cpf website and check)

3. Not sure but it will also depend on your income. Use this calculator to get an estimate: http://services2.hdb.gov.sg/webapp/BP27MaxLoan/BP27PMax1.jsp

4. Why not check similar transactions on hdb website? http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp

[Wt_know]

why sell hdb flat and re-buy a resale hdb flat?

your main intention is to cash out?

 

log in to your cpf and check the "accrued interest" - the amount need to go back to cpf.

but this one should be no problem since you can use the $$ to buy the next property

 

Edited February 1, 2015 by Wt_know

[Yeobt]

Thank you all.

 

why sell hdb flat and re-buy a resale hdb flat?

your main intention is to cash out?

 

log in to your cpf and check the "accrued interest" - the amount need to go back to cpf.

but this one should be no problem since you can use the $$ to buy the next property

 

Not cashing out la, upgrading to bigger unit with additional room becos my wife wants to get her parents to live together.

[Beehive3783]

I also have a question for you. Tampines is prime area (to me), why are you selling?

 

 

 

hi,

i have a few questions that needed your advice.

1. what is the max age allowed to get HDB loan? 60? 65?

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

lastly,

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

Thank you.

 

 

[Yeobt]

I also have a question for you. Tampines is prime area (to me), why are you selling?

 

I will still be looking at tampines or pasir ris area. Just need extra room and possibly near mrt to plan for aging.

[Blueblueman]

No offense meant bro, but really not easy staying with in laws.

 

Many many cases even high EQ also bei tahan.

 

Near mrt hope can get near 500 range ba, if you wan I can give u a contact but he more pro in sk n punggol

 

Good luck cheers

 

Btw MCF is better than HDB hotline, you made the right choice! Haha

[nazerath]

You can try getting an agent to work out the details for you. The market is not so good for sellers, you can put up your place for viewing to get a feel of the offers if any.

[Ronleech]

 

hi,

i have a few questions that needed your advice.

1. what is the max age allowed to get HDB loan? 60? 65?

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

lastly,

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

Thank you.

 

Qns 1 - 65 minus loanee current

Qns2 - Selling price-outstanding-refund to CPF with interested - Agent fees = Cash get back

Qns3 - How many time have you get loan from HDB? HDB can get loan 2 times. Depending on how much you have in your CPF at the point of transaction. Buying price - CPF balance = loan amount.

[SuPerBoRed]

TS... watever well hearted advice you hear from bros here... and from your future agent... do not forget to do due diligence and check directly with HDB as well...

[Jman888]

TS... watever well hearted advice you hear from bros here... and from your future agent... do not forget to do due diligence and check directly with HDB as well...

 

 

get an agent that will do everything, they are all hungry for business now.

[Jamesc]

Thank you all.

 

 

Not cashing out la, upgrading to bigger unit with additional room becos my wife wants to get her parents to live together.

 

You want to live with your MIL?

 

And your FIL?

 

Unless you really like them

 

it better to live close but not together.

 

[Donut]

 

hi,

i have a few questions that needed your advice.

1. what is the max age allowed to get HDB loan? 60? 65?

2. i own a 4 room HDB flat in Tampines, outstanding loan is $100k. monthly payment is about $1000. my loan amunt then was $250k. how much cash could i get back should i sold my flat at $480k?

3. i'm looking at a resales unit with 4 bedrooms selling at $690k. how much could i loan from HDB and what is my monthly repayment and years of loan be allowed from HDB?

lastly,

what is the best price can i fetch for my 4 rooms in Tampines st 22, high floor unblocked, corner, lift landing upgraded, 12 mins walking to Tampines MRT and Simei MRT, 10 mins driving to major PIE / ECP / TPE highway.

Thank you.

 

u can dl Mobile@HDB App and check all transacted prices at your area, even your blk number, and floor level.

 

this app also can show the sale proceeds, sales calculation. buying flat, and whatever services you need.

 

no one can really answer your Q.2 and Q.3 without you telling us how much did you paid for your tampines flat, whether you used CPF to pay, how much dp you paid last time, your real age, income level...........

 

One very impt advice, before you trust any agent to do work for you, make sure you do your own homework and know exactly what is going on, right down to $$$ amount for everything.

 

Some agents are not so helpful or may try to smoke you. Times are bad for agents now, they may do anything to close a deal. They don't really care about your questions or family concerns.

[Wyfitms]

just spend $25 attend the HDB resale seminar. You will learn all you need to know about buying and selling HDB

 

It is very simple process and any doubts just email HDB they will get back to you.

 

unless you are so busy (like not even having 10mins to surf MCF during the day) then get an agent to do it for you