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I bought my HDB flat at $320,000, still own HDB $230,000. Current flat estimated valuation of $480,000.

Currently my wife and I have combine cash saving of $150,000. CPF $80,000. My Wife and my combine annual is $190,000. We both own entry level car, no loan for my car. Wife still have approximate $450 for 3 more years for her 3 7 year old car.

We are both in our early 30s (31 and 32) degree holders, working in MNC and GLC, we have an infant, helper and dog. Monthly income approximately $12,000.

I am currently in my HDB BTO 4th year stay. Would like to ask what is the earliest date i can purchase EC?
I do not want to over commit over our limit property.

Also like to request recommendation EC budget what EC size. We feel current flat is too small for us (4-room). If our financial strength is too weak please recommend us resale property.
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5 Answers

Dear sir,

It is prudent to work out on your loan eligibility with a banker given that you have additional monthly financial commitments, and they will be in a better position to advise you the financial commitments since they are the professionals in this field. Since you BTO unit has not fulfilled the MOP, the earliest you can commit to a purchase is only when you have met the MOP.

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Hi,

you can only purchase EC or 2nd residential property after your hdb has met its 5 year MOP mark, hence it may be at least 1 more year to go. Based on your info shared, getting an EC shouldn't be an issue, just that locations wise EC are mostly in the outskirts area, is that something you will consider? Thanks and hope to understand your requirements further and value-add further to your housing plans.

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Ivan ERA
 97432395 
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Hi,

Perhaps we could focus on your loan eligibility and thus, it'll be easier to construct the progressive payment to assess your residence options. I am highly familiar with EC having concluded sales at Sol Acres, Bellewoods and more! My client's testimonial for my service: http://www.kumarrai.com/agent-page/88280/testimonials

Do get in touch for a non obligatory discussion for me to guide you exactly on the step by step procedural framework of EC purchase, and chart the payment timeline / breakdown , to facilitate your purchase. To add , there is no agent fees and I will walk you through the entire process. Thank you!

D Kumar
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ERA Associate Division Director
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Hi,
If you are concern about the size of the property, can look out for EC or private condo without balcony, or resale condo.
With the income of 12K and serving 450/month car loan, the estimated max loan quantum is around 1.6M with 30 year tenure, very good profile but advise not to stretch that much.

Suggest to go for 1 - 1.5M of private condo for own stay. Since have 1 more year to complete the MOP, good to work out the financial plan from now.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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GAN ENG JOO ONASSIS
Hi,

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We can assist you based upon your stated contents and walk you through the entire process of HDB Loan.

Call us now, we can explore further in detail.

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