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Hi,

Yes you can use the funds you have in your OA to pay for the 15% EC downpayment. You don't need to pay down the loan since you can sell away your hdb with outstanding loan, just that the sale proceeds will be used to pay down the loan when you sell away the hdb unit. There will be no penalty.

May I know which EC are you considering? I will be glad to illustrate the full financial plan so you will have a smooth transition and know when to expect the payments. Will also be glad to share the value buys and latest availability of units of all EC projects launched. Thanks and hope to value-add to your plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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(Client's Testimonials) Read More

Afternoon,

As you have fulfilled the MOP, you will be eligible to purchase your second property without the need to sell off your current property. Should you require the funds that have being locked, you can sell your HDB away without incurring any penalty. However, to obtain a 80% loan, you will need to preview documentation that your HDB have secured a buyer.

Do contact me further should you require my services.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Mr Yang,

Yes, you can use your CPF for the 15% down payment for your EC. Yes, you can also sell your HDB with the outstanding uncleared loan. The uncleared loan amount ie. 60k will be deducted from the sales amount and returned to HDB or bank depending on where the loan is secured.

However, when purchasing the EC, since you have an outstanding loan for your current HDB, you may not be able to eligible for the max 80% loan since you have an outstanding loan in place, unless you have already secured a buyer for your current HDB flat.

There is an oversupply of ECs currently and you may wish to consider the locations of each projects carefully before making a decision. Do feel free to contact me at 9644 4854  so that I can share with you my views on the various projects as well as do up a financial plan for you to plan better.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought through Nick) Read More

Good afternoon Shanwen,

As you had fulfilled your MOP, you are eligible to purchase a new EC.

You can utilise your CPF OA funds to finance 15% CPF downpayment as you should be able to obtain 80% bank loan as it's a requirement to sell off your HDB within 6 months from new EC's TOP date.

Even there's outstanding loan, you are still able to sell off your HDB. Rest assured on that.

If you need further assistance or advice in your EC purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Hi,

Re: Our Preferred Experienced SG Realtor

We can assist you based upon your stated contents and walk you through the entire process with deferred payment scheme of EC.

You only start paying the installment upon EC TOP (Key collection). You can focus on servicing existing loan only.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | CES Certified SG Realtor l SGRealtor.com
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ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

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Good evening Shanwen,

As long as your household has at least one Singaporean, you are eligible to purchase a private property and hold on to current HDB.

So you dont have to sell off your HDB, you can rent it out and stay in condo.

Hope my explanation helps!

How can I assist you further in your property purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Hi Which ECs are you looking into?
Basically you will need to dispose your hdb once you have gotten the key for your EC. Let me assist you through the entire process from here. You may wish to contact me via 91442664  for a details discussion.
Looking forward to hear from you.
Tricia Tan 91442664  Read More