6 Answers

CK Ang
Hi Ian,
I am able to assist you to compute the estimated bank loan quantum for start. Below is my input.
1. Total 20% down payment - 5% cash for booking and 15% CPF + cash, this is provided 80% loan is eligible
2. 15% down payment and monthly instalment can pay via CPF.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808
Ivan Ng
Hi Ian,

Understand you are looking at various EC sales from developers, I'm involved with all the EC projects that you have mentioned, but unfortunately Twin Waterfalls is fully sold. For ecopolitan, only 3BR dual key units left (requires 2 generation family nucleus).

For Bellewoods and Forestville, there are still available units but Forestville limited left. The cost of a 3BR is about 800k, hence breakdown as follows:
Cash 5%
Cpf 15%
Max bank loan 80%
Stamp duties and legal approx 3%

Yes CPF can be used to service the monthly mortgage.

Please note that there are various measures you have to adhere to before you can qualify for ECs, namely:
Gross household income monthly cannot exceed 14k
No overseas or local private properties currently, or cannot have been holding ownership in the last 30months.
Have at least 1SC in the application

EC loan is also subjected to 30% MSR, and your max bank loan depends on your age, income and credit profile and any outstanding loan at the moment.

Thanks and may I understand your requirements further so to value-add better to your plans? Let's discuss further.

Warm Regards,
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials)
Gavin Ng
Hi Ian Koh Yan Wei

Broadly if you are taking a bank loan append are your likely fund structure.

1. 5% Cash
2. 15% CPF or Cash (if CPF is insufficient)
3. 80% Bank loan
4 5% CPF or Cash for your buying expenses ie Stamp duty, conveyancing fee, agency commission.)

As you are a returning expat which means that you are a Singaporean, you may apply for a HDB loan.

If you can email to gavin.ng@orangetee.com, we will be able to advise further with the necessary information from you.

Or you may call 9620 0827 for a casual chat.


Ng Teck Chuan
Hi Ian,

The cheapest 3-bedder in Bellewoods is around $800k; the cash you'd need would be 5% for the downpayment ($40k), the remaining 15% is sufficiently covered by your CPF OA ($120k), and another 3% from your CPF for BSD & legal fees ($24k).

Yes you can use your CPF OA to service your mortgage loan.

Feel free to contact me at your convenience, and I can secure a good unit for you.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602
Kelvin Chen
Hi Ian,
The cheapest 3 Bedroom Unit at Bellewoods is $786K.
For an EC purchase, you need to put 20% downpayment. Out of which 5% must be cash, and 15% can be cash or CPF. The balance 80% can be from Bank Loan.

So for your case, you CPF is sufficient to cover the 15% and the Stamp duty.

I'm the appointed Sales team for Bellewood, do feel free to contact me for more information and non obligatory discussion.

Kelvin Chen
ERA Associate Division Director
Bhavina Kaur
Hi Ian!

Have you purchased a unit at Bellewoods or anywhere else?

If you're still looking to purchase and need guidance, do contact me!

Bhavina Kaur
ERA Realty

M: +65 9170 8295
E: bhavina7777@gmail.com
W: investbuysellrent.com
F: facebook.com/Bhavina.real.estate