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Executive condominium

HDB to EC: Bridging Loan Check

For HDB owners upgrading to a new executive condominium. See whether your cash, CPF and home loan cover the purchase, and how far the equity in your HDB flat can bridge any shortfall until it is sold.

Your figures

Fills every field with a made-up case you can then change.
Step 1: the down payment

Enter 0 if none.

All buyers together. Enter 0 if none.

Step 2: the bank's loan
The EC loan

Gross, all buyers taking the loan together.

Banks count 70% of it.

For two borrowers, the income-weighted average. The loan must end by 65.

Count towards the 30% limit. Ask the banker whether your HDB loan is counted while the flat is being sold.

Count towards the 55% limit on all debts.

Your figures stay on this page. They are not saved or sent anywhere.

Result

A little more is needed

Still needed:

  • EC purchase price
  • Cash you can put in (0 if none)
  • CPF Ordinary Account you can use (0 if none)

What this calculator leaves out

  • The bank decides the loan, the haircut and whether to grant the bridging loan; the income estimate is not an IPA.
  • HDB decides eligibility, including the household income ceiling.
  • Legal fees, valuation fees and any resale levy.
  • It works from the figures you enter. It is not a bank's approval, a valuation or advice.

Calculator EC-02

Want the figures looked over?

An agent can go through your figures with you and point out what a calculator cannot see: timing, eligibility and the order in which to do things. Nothing you typed here is sent with your enquiry; bring the figures or a printout.

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