Asked by Mr. Jonathan Chan
I have $120K cash $100K CPF.
Looking at a new EC worth $1mil in DPS payment.
CPF + CASH (20% downpayment) + stamp duty ($20k) is what I suppose to pay upon booking.
My approve loan from bank recently is 65%.
I have pay 5% for booking and now pending for HDB approval to pay remaining 15%.
I intend to sell off my HDB upon EC TOP where the sale can cover almost 50% of the loan.
One banker told me that I will not be able to use CPF for the 15% downpayment because I am not able to get 80% loan. So I have to use another $150k cash to pay for the remaining 15%. Before CPF starts kicks in. Is that the situation now?
Looking at a new EC worth $1mil in DPS payment.
CPF + CASH (20% downpayment) + stamp duty ($20k) is what I suppose to pay upon booking.
My approve loan from bank recently is 65%.
I have pay 5% for booking and now pending for HDB approval to pay remaining 15%.
I intend to sell off my HDB upon EC TOP where the sale can cover almost 50% of the loan.
One banker told me that I will not be able to use CPF for the 15% downpayment because I am not able to get 80% loan. So I have to use another $150k cash to pay for the remaining 15%. Before CPF starts kicks in. Is that the situation now?
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