September 2013 BTO

[pumkim]

its a 4 room flat bought resale think can sell for 400+. outstanding loan still got 120k. I am worry about the downpayment needed if successful in ballot cos cpf now ONLY left 10k. should be able to get hdbloan.

 

[wilfred]

But let's not forget that even if the accrued interest goes back to your account after selling your existing property, you can re-use your entire CPF (together with the accrued interest) that your originally put back for your next purchase.

So it still boils down to the same thing.

It's different. For example if u leave $100k in cpf, it will become $113k in 5 yrs. When u sell your flat at $400k, you have total of $513k to buy next property.

If u use the $100k from cpf, and u sell your flat 5 yrs later at $400k, your have to pay back $113k to cpf, and left with $287k. You can use $500k to buy next property, inclusive of the $100k cash u have originally.

This is just simple comparison, of course if u use the $100k cash and invest with return of more than cpf interest, then it's different.





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[wilfred]

its a 4 room flat bought resale think can sell for 400+. outstanding loan still got 120k. I am worry about the downpayment needed if successful in ballot cos cpf now ONLY left 10k. should be able to get hdbloan.

In such case, cpf left with $10k means you have to pay another $30k in cash in your down payment.

When u sell your house at $400k, you have to pay levy of $40k, pay back outstanding loan of $120k (will be lesser when u get keys yrs later). your cpf +cash proceed is around $240k. You will take hdb loan of around $120k only. if your existing loan is hdb and take hdb loan again, then can contra, hdb give u a loan of high interest to pay for new flat until you sell the flat to pay them the $240k. then the loan will be revised to concession rate for the remaining $120k.



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[euchristelle]

But let's not forget that even if the accrued interest goes back to your account after selling your existing property, you can re-use your entire CPF (together with the accrued interest) that your originally put back for your next purchase.

So it still boils down to the same thing.

But if we were to sell the 5 room flat in the future.. We wouldn't be getting any hdb anymore therefore we don't want the money to go back into the cpf account. Anyways no matter what I still have to listen to the boss! (My fil) haha

 

[djunique]

sigh... buy house lots of problems alr sell house lagi worse...

 

[wilfred]

But if we were to sell the 5 room flat in the future.. We wouldn't be getting any hdb anymore therefore we don't want the money to go back into the cpf account. Anyways no matter what I still have to listen to the boss! (My fil) haha

When u sell, what u had taken from cpf must go back to cpf with accrued interest, regardless of whether u want to buy another hdb or private property or don't want to buy next property.





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[Gixxerfied]

But if we were to sell the 5 room flat in the future.. We wouldn't be getting any hdb anymore therefore we don't want the money to go back into the cpf account. Anyways no matter what I still have to listen to the boss! (My fil) haha

Use CPF monies, pay CPF monies with interest..

 

[pumkim]

downpayment cannot use the resale flat to contra?

 

[wilfred]

downpayment cannot use the resale flat to contra?

No, definitely cannot.

 

[markopolo]

Haha he ORDed for about 2 years already! I don't think he will have to stress at all for the downpayments (lucky for him) cause he has a good backup behind him lol. The only important thing for us now is to get a good queue number! I almost tried for march or may's maltilda bto but we didn't like that area and we've been aiming for waterway since then! I originally wanted a 4 room flat so we could have more grants and of course the house is also cheaper but my bf's dad wants a 5 room with the highest floor... Sucks to be me.

Since he has got strong financial backing, den no prob alreeady.. haha.. my colleague say wanna get house, get the biggest. HAHA

 

[fabiaN__]

Since he has got strong financial backing, den no prob alreeady.. haha.. my colleague say wanna get house, get the biggest. HAHA

Still must see income level lor. Got news report that couples with combined income of $5k+ hoot $700+k EC, parents pay for 20% down payment. But I think it's very tight.

HDB website also states an example of a couple earning combined income of $6k, buying a 5-room HDB at $400k or so. Combined OA contribution of around $1.4k. Forgot installment amt already.

 

[devilcup]

Use CPF monies, pay CPF monies with interest..

all i can say, cash is king!

 

[sibekcheng]

Applied for Punggol 5-rm, until now letter also havent received...

 

[Nirvani]

I received a letter stating my application went through and to wait for queue results in early november... today already 6th still no news of the results

 

[shizamross]

I received a letter stating my application went through and to wait for queue results in early november... today already 6th still no news of the results

U sure? E letter stated tat we applied liao.. Where got wait q no.. Ballot result not out yet.. al waiting

 

[Gixxerfied]

U sure? E letter stated tat we applied liao.. Where got wait q no.. Ballot result not out yet.. al waiting

He's not wrong thou..

Receive a letter stating they have receive the application. Wait for q result is the same as getting your ballot/q no..

Your ballot no would be your q no anyway..

 

[d3fc0n]

BTO Punggol 5-Room Your application has been cancelled.


have fun guys! i selected my telok blangah unit ytd

 

[macdawn]

BTO Punggol 5-Room Your application has been cancelled.


have fun guys! i selected my telok blangah unit ytd

Congrats!

 

[devilcup]

BTO Punggol 5-Room Your application has been cancelled.


have fun guys! i selected my telok blangah unit ytd

Congrats! We cont to wait!

 

[Gixxerfied]

try and see if it works..

Page has been updated but depends on whether the result database has been link up or not..Likely up at near 4pm..

HDB InfoWEB e-Service : Result of Build-To-Order Exercise