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Dear sir/madam,

Am unsure how your derivation of the shortfall on 15%, however, in the event that you are correct with your calculations, the feasibility on making up the shortfall definitely cannot be given by anyone else as we cannot be accounted for this to happen. The probably option is to look into upgrading to a private condo instead since the loan is granted based on TDSR instead of MSR, therefore loan quantum could be slightly higher and you can plan out the financing options accordingly.

Do note that while existing interest rates are low, it will not stay low forever, therefore if you are planning to take up home loan under the progressive payment schemes or deferred payment schemes, the interest applicable can be a significant difference from now until then.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Good morning y,

By taking deferred payment scheme, you need to fork out the initial 20% plus 3 to 4% stamp duty to book an unit. Thus you need to gather balance 80% in form of housing loan + bridging loan.

Do you have an existing HDB on hand?

If yes, you nevertheless have to sell it before TOP to time the sales proceeds or refunded CPF OA funds to fund the EC. If so, you will be able to take up a bridging loan based on this now especially you mentioned about your age.

Both bridging and housing should be able to make up 80%.

Do take note of this:
There is a sequence of payment modes for new property purchase.
(1) Cash
(2) CPF
(3) Loan.

If you wish to utilise CPF and cash in the initial 20%, your plan to save up cash to pay wont work cause you already used CPF in first 20% so payment for balance 80% will have to be CPF housing/ bridging loan, cant use cash. Have to follow the sequence.

It might sound confusing. Do feel free to contact me so I can work out the numbers for you in order to have a smooth purchase experience.

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
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Hi

I have recently help a client who is short on loan and down payment.

You may want to text 9620 0827  for an casual chat as each individual client is unique in their situation.

Warmest regards

Gavin Read More

Hi,

Yes its possible. Through the Deferred Payment Scheme, the down payment + stamp duties work out to approx 23% of the purchase price. The balance can then be met via your home loan + another bridging loan. I have worked on similar cases and it is feasible with some detailed planning.

Do note the resale levy also applies if your current flat is a subsidized flat.

Another way could be to do some asset pledging to bump up the home loan amount to full 75%.

Happy to explore the solutions together. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Dear Sir/Mdm,

I have assisted quite a number of my clients who are in a similar situation to upgrade to a brand new EC successfully. The sequence of the payment for EC will be cash, cpf and lastly by loan and therefore it will not be feasible for you to save up while waiting for the TOP as you will need to secure a sufficient loan in the initial stage.

I would recommend selling your current flat first and rent while waiting for the new EC to be completed. In this way, you will not need to take the deferred payment scheme (paying a higher price for the same unit) and also will be able to book the unit that you want at the earliest possible date.

Please feel free to contact me so that I can understand your situation more and provide you with some possible solutions.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited 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)

“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.”
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Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
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“Nick 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.”
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