Asked by Anonymous
I am currently an owner of a flat and I'm interested to buy an EC.
I have met the requirements for MOP. However, I still have a outstanding balance of $100,000 for my flat.
I understand that to buy an EC, you need to pay a downpayment of 20%. My wife and I have about $80,000 in our CPF OA and we have about $35,000 in cash, which is short of the 20%.
Does this mean that we have to sell the HDB first before buying the EC? Is there any other way we can finance the down payment without selling the house first?
I have met the requirements for MOP. However, I still have a outstanding balance of $100,000 for my flat.
I understand that to buy an EC, you need to pay a downpayment of 20%. My wife and I have about $80,000 in our CPF OA and we have about $35,000 in cash, which is short of the 20%.
Does this mean that we have to sell the HDB first before buying the EC? Is there any other way we can finance the down payment without selling the house first?
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