1 Answer

Soh Huan Yao (Stanley)
For private property, you can loan up to 80% from bank(Subject to bank approval) if you do not have existing housing loans. the balance 20% is split to -
5%(Cash) 15% in cash or cpf.
If base on 750k and the bank grants you 80% max loan:
5% - 37500 cash
15% - 112500 cash or CPF
80% - 600000
of course there's the lawyer's fee and stamp fees to be added in.
EC are developments by private developers but subject to HDB eligibilty scheme.
Therefor if you are to buy new launch EC you have to meet the criteria.
You can see if you are eligible at HDB Website under New Flats.But the main criteria is 1 applicant must be SC and the others that form the Family nucleus at least 1 must be SC or SPR.
I hope i have answer your queries.
Please do not hesitate to contact me or email me if you have need to discuss more.

Stanley Soh
CEA Reg:R012218E
Email:huanyao27@yahoo.com.sg Read More


  • SW
    Hi Stanley, thank you for your prompt reply. I have a couple more questions.
    1)How much usually are we expected to pay for the stamp fee and the lawyer? (Just an estimated range).
    2)I understand that because my husb is only holding an EP, we are only eligible to buy resale units if we were to go for a HDB, so I believe that also applies for EC right? If so, do we still get to use the gov grant and how much?
    3) If say, I bought a private property and after a year of staying, we decided to migrate, can we rent out the place? I'm asking this because from my understanding for a HDB (maybe also the same for EC?), you'll have to be the effective tenant for at least 5 years before you can let it out.
    Thank you.