Good morning EC upgrader! You can either hold on to your HDB while waiting for EC to be completed or you can sell off first, stay in a rental unit/ with family while waiting for completion. If you choose not to sell first and if you still have outstanding loan, you will only be able to obtain 50% loan which means 50% downpayment in 25% cash and 25% CPF. More cash outlay. Or you may choose to sign an undertaking to bank stating you will sell off your HDB after keys collection of EC to obtain a 80% loan. If you decide to sell before application, you will be able to obtain 80% loan thus only 20% downpayment. Lesser cash outlay but have to consider the rental expenses as well. As for additional buyer's stamp duty, you will be subject to it if you hold on to your HDB while waiting for completion. But it will be refunded back to you if you manage to sell off your HDB 6 months from keys collection date. Why not let my panel of bankers to advise you on your in principle approval and we work things out from there? Hope to hear from you soon! Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com
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