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Do I need to sell my 5 rm executive flat first in order to purchase an EC or Condo so that my CPF will have sufficient funds to make payments for the Progressive payment of my new Condo? And how does the payment works? Thx
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1 Answer

Andrew Ngauw
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Hi Celine,

do an approval-in-principle first with the banks, ascertain they are able to loan you 80% of your intended property purchase price.

If you managed to get the 80% loan from the bank on progressive payment scheme and do have the financial capabilities to service 2 loans ( I am assuming your HDB still has 1 existing loan ),

then u DO NOT need to sell your HDB flat first to buy an EC.

For more a detailed analysis of your financials, feel free to contact the people who know ECs best

Thank you and here's wishing you and fmaily a Happy & Prosperous Lunar New Year!!

Andrew Ngauw
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