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Hi,

If there is not enough CPF for the 15%, you can use cash to top up the shortfall. You can also sell your HDB first, get the proceeds and then use it to pay for downpayment. However, you will have to rent a unit for 1-2 years since Ecopolitan will TOP in 2016. Is that something you will consider?

Regardless, an HDB upgrader to EC has to sell the HDB unit when they move in to EC within 6 months, so its a question of when to sell.

I will be glad to share with you the available value buys for Ecopolitan as my firm ERA is marketing the project. Another EC project at Punggol is also coming up, do you need the first hand details?

Thanks and hope to speak to you to understand your requirements further.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Good evening Upgrader,

It will be best for my banker to advise you on your in principle approval first so you can gauge how much bank loan can you obtain based on combined income of $8k and whether do your monthly CPF contribution/ current OA funds you have is able to cover monthly mortgage repayment.

Maybe do share more information on your finances with me so I will be in a better position to advise you.

As you have mentioned, you don't have enough CPF OA funds for your 15% CPF downpayment then you might have to pay the shortfall in cash. Worse come to worse, you have to sell off your HDB first to fund the EC upgrade and stay in temporary accommodation while waiting for completion of EC construction.

Hope my explanation helps!

Hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More