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i am to buy a EC... i would like to know when will i need to service the loans. immediately after i bought the EC or after TOP.. Do i need to pay any down payment? After i got the EC from the developer do i need to sell my current HDB or can i wait till TOP
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1 Answer

William Koh
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Hi,

I believe you are talking about buying a new EC.

1) You are require to sell off your HDB flat within 6 months upon TOP.

2) It depend on the type of payment scheme that you took.
a) Normal Payment Scheme: Loan kicks in during construction
b) Defer Payment Scheme: Loan kicks in upon TOP

3) Downpayment is 20% (5% Cash, 15% Cash/CPF).
Please do take note if you have existing mortgage loan, your banl loan for this EC is only max 60%.

Feel free to contact me regarding matters on EC.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
williamkoh.st701property.com
www.myBishanCentralCondo.com
www.myBedokResidences.com
www.ArcAtTampinesEC.com
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