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Condo Questions

Asked by Boathouse 26 Oct 2011

Hi. Is it possible and how much do I need to pay upfront if I currently live in an EA and looking at upgrading to a condo that will be ready in 2015

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Mike Lim · Answer 1 · 2011-10-27T11:20:28+08:00

Mike Lim

Replied 27 Oct 2011

Morning,

Is your current EA still under mortgage? If so, bank can only lend you max of 60%. 10% of which must be cash, and remaining 30% be in cash / CPF / CPF + cash.

FYI
Mike Lim
96929209
ERA Read More

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Ken Tan · Answer 2 · 2011-10-27T12:49:08+08:00

Ken Tan

Replied 27 Oct 2011

Hi,

In addition to what mike has mentioned, it is possible to get 80% loan based on different scenarios instead of the 60% even with mortgage.
You can either contact me or look for a banker for advice. I have mentioned how you can go about doing it in my previous post.

However, please be advised not to overstretch your mortgage as its not prudent.

Good luck

Ken Tan
96461490
Huttons

more info, go to www.96461490.com Read More

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Ken Tan · Answer 3 · 2011-10-27T12:51:00+08:00

Ken Tan

Replied 27 Oct 2011

Hi Boathouse,

I take back my words, as i realized that your current mortgage is of HDB and not private property. The scenarios i mentioned only apply for current private properties mortgage. My apologies.

Ken Tan
96461490
Huttons

more info, go to www.96461490.com Read More

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