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Hi, I would like to buy a EC. i have a few question hope that some of you out there can help me .
1. Currently, i have a hdb flat and when do i need to sell it off if i got a EC?
2. If i get a EC, when will i need to service the loan.. Immediately after i got the EC or sfter TOP..
3. If i get a EC, do i need to pay any down payment?
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2 Answers

Mike Lim
Replied
Afternoon,

When you talk about EC's TOP, I would assume that you are buying brand new EC. With the key collection of your new EC, you need to sell away your HDB unit within 6 months time. Servicing of loan also commence from key collection date, if you are taking another HDB loan, where 10% must be Cash and 10% in CPF.

DO feel free to contact me for further assistance

Regards
Mike Lim
 96929209 
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  • TJ
    Replied
    Does it mean that I can still take hdb loans so for the 10 percent cash n cpf when will I need to pay upon having the ec or at TOP
William Koh
Replied
Hi,

I believe you are talking about buying a new EC.

1) You are require to sell off your HDB flat within 6 months upon TOP.

2) It depend on the type of payment scheme that you took.
a) Normal Payment Scheme: Loan kicks in during construction
b) Defer Payment Scheme: Loan kicks in upon TOP

3) Downpayment is 20% (5% Cash, 15% Cash/CPF).
Please do take note if you have existing mortgage loan, your banl loan for this EC is only max 60%.

Feel free to contact me regarding matters on EC.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
williamkoh.st701property.com
www.myBishanCentralCondo.com
www.myBedokResidences.com
www.ArcAtTampinesEC.com
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