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Hi

Oh in your scenario, you should go for the deferred payment scheme with bridging loan. With sufficient CPF OA you should be able to get the unit. The total loan from bank has 2 components (home loan and bridging loan)

In your scenario you can bump up the home loan to about 840k based on extended home tenure of 29 years, but the minimum cash downpayment will be 10%

With your hdb, it can also be used to apply for deferred bridging loan, which is a separate loan from home loan, and will also bump up the total bank loan amount that can be used for the purchase.

If have sufficient cash funds, can also do show funds method to bump up the home loan as well.

I can assist to do a full calculation for you so you get the full picture for the transition.

Unfortunately Rivelle EC is fully sold out though, so not sure if you might be open to Coastal Cabana EC with available 4 bedroom units.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 home-owners to smoothly complete their housing plans over the years. Please reach out to me at (65) 9 7 4 3 2 3 9 5 for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng
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New EC buyer Andy and Eileen

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Hi, appreciate your sharing over PropertyGuru, best to check with banker first to determine the loan size before working out your future plan.
Looking forward to assist you at WhatsApp +65 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart
PropNex Senior Associate Division Director Read More

I would be glad to assist you.
Feel free to contact me at
wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Loan considerations for brand new ECs are based on MSR instead of TDSR, which makes the entry slightly more difficult thus many 2nd timers are opting for DPS. Nevertheless, with latest EC rulings, DPS will no longer be applicable for the newer ECs in pipeline.

The best is to speak to a qualified banker to work out on your options based on existing finances so you do not waste time going through unofficial estimates.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market. Check out the EdgeProp featured article on myself recently at https://www.edgeprop.sg/property-news/geryl-lim-leading-landed-real-estate-heart-hustle-and-harmony

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 15,900 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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✔ Your loan amount is mainly limited by your age, shorter loan tenure, and EC financing rules like MSR and TDSR.

✔ Even with strong assets, banks focus heavily on monthly repayment ability over remaining loan years.

✔ Many EC buyers manage higher budgets through bigger CPF savings, stronger incomes, family support, or by buying smaller units.

✔ A $2.2M EC may be financially tight for your current profile unless you use a large portion of your cash and HDB proceeds.

✔ A resale condo may offer more financing flexibility compared to a new EC.

✔ The key consideration now is balancing housing goals with retirement planning, family expenses, and long-term financial comfort.

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WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

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I would be glad to assist you.
Feel free to contact me at
wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

There are indeed a number of financing strategies to make the purchase possible, specifically for ECs where the loan eligibility is capped due to the governments' policy on mortgage servicing ratios.

With the recent rule changes that the government introduced on ECs, there would also be direct impacts to what you are attempting to do here.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options and share more about how you might make a housing transition possible.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More