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Asked by Mdm. Alysha Kadir 19 Jun 2012

Hi, my husband & I, both 34, are thinking of upgrading to a 2bdrm or 3bdrm compact EC in e east/northeast area. Question is, will e bank grant us a loan with the proceed of abt $300k from e sale of our flat? Agent's fee, stamp & legal fee & fire insurance will be excl from e sales proceed as we have already set aside the cash for it. However, only my husband who is currently employed with gross of $4k will be applying as I'm self-employed. What are the other cost that I have to bear in mind apart from the monthly maintenance fee. Thks.

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3 Answers

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Lyna Song · Answer 1 · 2012-06-19T12:32:30+08:00

Lyna Song

Replied 19 Jun 2012

Hi Mdm Alysha Kadir;

For purchasing of brand new EC,you are not required to pay agent's fee.There is a Deferred Payment Scheme available for new EC.As long as your combined income does not exceed $12k per month,you are eligible to apply..Apart from the monthly maintenance fee,there is no other miscellenous fee that you need to pay.I have a few new EC just launched in Northeast & East area.Please feel free to contact me for more info.Thanks

Regards;
Lyna ERA
96238442
lynasong@hotmail.com Read More

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Geryl Lim · Answer 2 · 2012-06-19T15:51:47+08:00

Geryl Lim

Replied 19 Jun 2012

Dear madam,

Banks will grant you loan based on your income level and other factors that will affect your financial commitment for example if any hire purchase and stuff, therefore the best person you can talk to will be a banker to answer any of your financial doubts.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577576
Email: lim.geryl@yahoo.com.sg Read More