Asked by Dollar
Assume HDB fully paid and my OA is 0 since used to pay HDB
To apply for new EC, need 5% cash + 15% CPF/Cash DP.
No issues with 5% cash, for 15% my OA is recently depleted, what options are there?
Option 1: Sell HDB 1st, wait for OA to be replenished prior applying for new EC (Find alternative stay and wait for TOP which is at least 3 years usually)
Option 2: Sell HDB and apply EC at the same time. Due to time lag before OA is replenished take bridging loan usually 7% pa
Option 3: No need to sell HDB now. Sell within 6 months of TOP. (For 80% loan, need to provide intention to sell within 6 months of TOP) Save OA from ground up, meaning have to wait a few years prior applying for EC, but by then, income ceiling of 12k would be breached
Actually, most existing HDB owners who are clearing or have recently cleared their loans, would face this situation right? Meaning new EC target buyer group is not us?
To apply for new EC, need 5% cash + 15% CPF/Cash DP.
No issues with 5% cash, for 15% my OA is recently depleted, what options are there?
Option 1: Sell HDB 1st, wait for OA to be replenished prior applying for new EC (Find alternative stay and wait for TOP which is at least 3 years usually)
Option 2: Sell HDB and apply EC at the same time. Due to time lag before OA is replenished take bridging loan usually 7% pa
Option 3: No need to sell HDB now. Sell within 6 months of TOP. (For 80% loan, need to provide intention to sell within 6 months of TOP) Save OA from ground up, meaning have to wait a few years prior applying for EC, but by then, income ceiling of 12k would be breached
Actually, most existing HDB owners who are clearing or have recently cleared their loans, would face this situation right? Meaning new EC target buyer group is not us?
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