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Hi,

If you want to own two properties at the same time, it will be private properties or resale EC.

Downpayment for resale EC will be as the same as private properties.

As for your case, it will be 50% downpayment (25% cash 25% CPF) because you will have outstanding loan.

If you want to take up a max 80% loan, you must clear your outstanding loan (advisable to sell off your current unit)

Hope it helps!

Cheers!

Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Hello,

1. If i own a HDB currently what kind of house can i buy as a 2nd house?

- Private homes only if you are intending to keep your HDB. If you are considering ECs, you would have to sell your HDB at TOP of the new EC.

2. Private only or am i eligible for EC?

- If you are keeping your HDB then it would be private only. Yes, you are eligible for EC purchase subject to meeting the criteria for ECs purchase

3. Is there any downpayment required for an EC?

- Yes, the downpayment is:
5% cash - upon booking a unit
15% cash and/or cpf - within 9 weeks from booking
Stamp duty - 3% of purchase price - [$5400]
Legal fees - Abt $3,000

4. What if my HDB is not fully paid and i am unable to folk out the 50% as i understand that banks only give a mximum loan of 50% if your current housing is not fully paid for. Is there any other way to go about this??
i.e take out a personal loan to pay up the balance 50%. I took out a loan from HDB for my current housing. Thank you.

- we are please to inform that the latest cooling measures allow HDB upgraders who are eligible for EC purchase to take up a progressive payment scheme and up to 80% loan even though there is an existing HDB loan. Total loan count is condsidered 1.

Feel free to contact the people who know ECs best for a no obligation discussion and strategic presentation on your EC purchase.

Thank you

Andrew
 8188 8887 
GPS Alliance Read More