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Hi experts, my husband and I (SC) bought a resale HDB without any form of subsidies but still serving a bankloan currently. Would like to find out :
1) how many percent of Downpayment must we prepare if we were to purchase a condo unit.
2) can we buy EC and keep the HDB for renting?

Thanks :)
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1 Answer

YT Tan (陈永达)
Replied
Morning Joselin,

First you must fulfill the minimum occupation period that is applicable to your resale flat.

When did you purchase it?

And since you still have outstanding housing loan, you have to fork out 40% downpayment (10% cash 30% CPF) and only able to loan up to 60% bank loan.

If you fully paid up your existing loan, you can loan up to 80% from bank and downpayment will be 20% (5% cash 15% CPF)

Yes you are eligible to purchase EC and keep the HDB provided the EC has privatised (fulfilled 10 years from first owner's key collection date)

If you are buying new or resale EC that has not privatised, you are not allowed to keep your HDB.

I hope I had answered your query. If you need any assistance, feel free to contact me.

Looking forward to hear from you soon!

Warmest Regards,
YT TAN
ECG Property Pte Ltd
Mobile: (+65) 9111 5171 
Email: yt.lovelyhomes@gmail.com
Website: www.yttan.com/ Read More
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