Buying first for second HDB concessionary loan – HDB for sale in Singapore
HDB for sale in Singapore – If buyer is buying first before selling, HDB will give, in full, the second HDB concessionary loan based on commercial interest rate which is the average lending interest rate of 3 local banks. Once the sale of existing flat is completed, HDB will use the refunded CPF & the balance sale proceeds from the sale of his existing HDB flat (after keeping 50% or $25K whichever is higher) to redeem the second HDB concessionary loan. After redemption, interest will be converted to concessionary rate.
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