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Hi, i currently own a exe apartment for about 3 years. Would like to buy/ switch to condo.

May i know what is e financing requirment? Example - 20% down?

Thanks in advance for your help.

Regards,

Edwin chan
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1 Answer

Mike Lim
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Afternoon Edwin,

You have purchased your EA for 3 years? When is the completion date for your purchase? Did you utilized HDB housing grant? Or did you purchase with bank loan?

Assuming that you have purchased with bank loan and the completion date is before 28 Aug 2010, you would have fulfilled your MOP requirement. For the financing of your upcoming purchase, it would be max of 60% loan, with 10% cash and 30% CPF + Cash, if your current unit is still on mortgage. Do note that you are required to set aside CPF minimum sum of around $71k, if your current unit is paid using CPF.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
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