Financing - HDB EC

Home Loan for EC

For Executive Condominium, the banks are able to loan you up to 75% of the property value, you would need to have 5% cash for the booking fee, the remaining 20%, buyer stamp duty and legal fee by cash or CPF.

EC Loan Calculator

Loan-to-value (LTV) for EC

Loan Tenure	Up to 30 Years	Up to 30 Years	31 to 35 Years
Sum of Tenure & Age of Borrower (at application)	<= 65 Years	> 65 Years
Loan-To-Value (Max. Home Loan)	75%	55%	55%
Min. Cash Down Payment	5%	10%	10%
Next Payment (Cash or CPF)	20%	35%	35%

MSR Loan Table for EC

Monthly Household Income

Fixed Income + (Bonuses x 70%)

Fixed Income + (Variable income x 70%)

NOA Income x 70%

Variable income x 70%

30, 29, 28 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	30 years	29 years	28 years
$6,000	$400,851	$393,158	$385,192
$6,500	$434,255	$425,921	$417,291
$7,000	$467,659	$458,684	$449,390
$7,500	$501,064	$491,448	$481,490
$8,000	$534,468	$524,211	$513,589
$8,500	$567,872	$556,974	$545,688
$9,000	$601,276	$589,737	$577,788
$9,500	$634,681	$622,500	$609,887
$10,000	$668,085	$655,264	$641,986
$10,500	$701,489	$688,027	$674,085
$11,000	$734,893	$720,790	$706,185
$11,500	$768,298	$753,553	$738,284
$12,000	$801,702	$786,316	$770,383
$12,500	$835,106	$819,079	$802,483
$13,000	$868,510	$851,843	$834,582
$13,500	$901,915	$884,606	$866,681
$14,000	$935,319	$917,369	$898,781
$14,500	$968,723	$950,132	$930,880
$15,000	$1,002,127	$982,895	$962,979
$15,500	$1,035,532	$1,015,659	$995,078
$16,000	$1,068,936	$1,048,422	$1,027,178
$16,500	$1,102,340	$1,081,185	$1,059,277
$17,000	$1,135,744	$1,113,948	$1,091,376
$17,500	$1,169,149	$1,146,711	$1,123,476
$18,000	$1,202,553	$1,179,474	$1,155,575
$18,500	$1,235,957	$1,212,238	$1,187,674
$19,000	$1,269,361	$1,245,001	$1,219,774

27, 26, 25 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	27 years	26 years	25 years
$6,000	$376,942	$368,399	$359,552
$6,500	$408,354	$399,099	$389,514
$7,000	$439,766	$429,798	$419,477
$7,500	$471,177	$460,498	$449,439
$8,000	$502,589	$491,198	$479,402
$8,500	$534,001	$521,898	$509,365
$9,000	$565,413	$552,598	$539,327
$9,500	$596,825	$583,298	$569,290
$10,000	$628,236	$613,998	$599,253
$10,500	$659,648	$644,698	$629,215
$11,000	$691,060	$675,398	$659,178
$11,500	$722,472	$706,097	$689,141
$12,000	$753,884	$736,797	$719,103
$12,500	$785,296	$767,497	$749,066
$13,000	$816,707	$798,197	$779,028
$13,500	$848,119	$828,897	$808,991
$14,000	$879,531	$859,597	$838,954
$14,500	$910,943	$890,297	$868,916
$15,000	$942,355	$920,997	$898,879
$15,500	$973,767	$951,697	$928,842
$16,000	$1,005,178	$982,396	$958,804
$16,500	$1,036,590	$1,013,096	$988,767
$17,000	$1,068,002	$1,043,796	$1,018,730
$17,500	$1,099,414	$1,074,496	$1,048,692
$18,000	$1,130,826	$1,105,196	$1,078,655
$18,500	$1,162,237	$1,135,896	$1,108,617
$19,000	$1,193,649	$1,166,596	$1,138,580

24, 23, 22 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	24 years	23 years	22 years
$6,000	$350,390	$340,902	$331,077
$6,500	$379,589	$369,311	$358,667
$7,000	$408,788	$397,719	$386,257
$7,500	$437,987	$426,128	$413,847
$8,000	$467,186	$454,536	$441,436
$8,500	$496,386	$482,945	$469,026
$9,000	$525,585	$511,353	$496,616
$9,500	$554,784	$539,762	$524,206
$10,000	$583,983	$568,170	$551,795
$10,500	$613,182	$596,579	$579,385
$11,000	$642,381	$624,987	$606,975
$11,500	$671,581	$653,396	$634,565
$12,000	$700,780	$681,805	$662,154
$12,500	$729,979	$710,213	$689,744
$13,000	$759,178	$738,622	$717,334
$13,500	$788,377	$767,030	$744,924
$14,000	$817,576	$795,439	$772,514
$14,500	$846,775	$823,847	$800,103
$15,000	$875,975	$852,256	$827,693
$15,500	$905,174	$880,664	$855,283
$16,000	$934,373	$909,073	$882,873
$16,500	$963,572	$937,481	$910,462
$17,000	$992,771	$965,890	$938,052
$17,500	$1,021,970	$994,298	$965,642
$18,000	$1,051,170	$1,022,707	$993,232
$18,500	$1,080,369	$1,051,115	$1,020,821
$19,000	$1,109,568	$1,079,524	$1,048,411

21, 20, 19 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	21 years	20 years	19 years
$6,000	$320,903	$310,366	$299,455
$6,500	$347,645	$336,230	$324,410
$7,000	$374,387	$362,094	$349,364
$7,500	$401,128	$387,958	$374,319
$8,000	$427,870	$413,822	$399,274
$8,500	$454,612	$439,686	$424,228
$9,000	$481,354	$465,550	$449,183
$9,500	$508,096	$491,413	$474,138
$10,000	$534,838	$517,277	$499,092
$10,500	$561,580	$543,141	$524,047
$11,000	$588,322	$569,005	$549,001
$11,500	$615,064	$594,869	$573,956
$12,000	$641,805	$620,733	$598,911
$12,500	$668,547	$646,597	$623,865
$13,000	$695,289	$672,460	$648,820
$13,500	$722,031	$698,324	$673,774
$14,000	$748,773	$724,188	$698,729
$14,500	$775,515	$750,052	$723,684
$15,000	$802,257	$775,916	$748,638
$15,500	$828,999	$801,780	$773,593
$16,000	$855,741	$827,644	$798,547
$16,500	$882,483	$853,508	$823,502
$17,000	$909,224	$879,371	$848,457
$17,500	$935,966	$905,235	$873,411
$18,000	$962,708	$931,099	$898,366
$18,500	$989,450	$956,963	$923,320
$19,000	$1,016,192	$982,827	$948,275

18, 17, 16 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	18 years	17 years	16 years
$6,000	$288,156	$276,455	$264,338
$6,500	$312,169	$299,493	$286,366
$7,000	$336,182	$322,531	$308,394
$7,500	$360,195	$345,569	$330,422
$8,000	$384,208	$368,607	$352,450
$8,500	$408,221	$391,645	$374,479
$9,000	$432,234	$414,683	$396,507
$9,500	$456,247	$437,720	$418,535
$10,000	$480,260	$460,758	$440,563
$10,500	$504,273	$483,796	$462,591
$11,000	$528,286	$506,834	$484,619
$11,500	$552,299	$529,872	$506,647
$12,000	$576,312	$552,910	$528,676
$12,500	$600,325	$575,948	$550,704
$13,000	$624,338	$598,986	$572,732
$13,500	$648,351	$622,024	$594,760
$14,000	$672,364	$645,062	$616,788
$14,500	$696,377	$668,100	$638,816
$15,000	$720,390	$691,138	$660,845
$15,500	$744,403	$714,176	$682,873
$16,000	$768,416	$737,213	$704,901
$16,500	$792,429	$760,251	$726,929
$17,000	$816,442	$783,289	$748,957
$17,500	$840,455	$806,327	$770,985
$18,000	$864,468	$829,365	$793,013
$18,500	$888,481	$852,403	$815,042
$19,000	$912,494	$875,441	$837,070

15, 14, 13 Years

Monthly Household Income	Loan Amount Per Tenure
Monthly Household Income	15 years	14 years	13 years
$6,000	$251,790	$238,795	$225,338
$6,500	$272,772	$258,695	$244,117
$7,000	$293,755	$278,594	$262,895
$7,500	$314,737	$298,494	$281,673
$8,000	$335,719	$318,393	$300,451
$8,500	$356,702	$338,293	$319,229
$9,000	$377,684	$358,193	$338,008
$9,500	$398,667	$378,092	$356,786
$10,000	$419,649	$397,992	$375,564
$10,500	$440,632	$417,891	$394,342
$11,000	$461,614	$437,791	$413,120
$11,500	$482,597	$457,691	$431,899
$12,000	$503,579	$477,590	$450,677
$12,500	$524,562	$497,490	$469,455
$13,000	$545,544	$517,389	$488,233
$13,500	$566,527	$537,289	$507,011
$14,000	$587,509	$557,189	$525,790
$14,500	$608,492	$577,088	$544,568
$15,000	$629,474	$596,988	$563,346
$15,500	$650,457	$616,887	$582,124
$16,000	$671,439	$636,787	$600,902
$16,500	$692,421	$656,687	$619,681
$17,000	$713,404	$676,586	$638,459
$17,500	$734,386	$696,486	$657,237
$18,000	$755,369	$716,385	$676,015
$18,500	$776,351	$736,285	$694,794
$19,000	$797,334	$756,185	$713,572

Use of CPF

The Private Properties Scheme enables CPF members to use their CPF Ordinary Account savings to buy Executive Condominium (EC).

FAQs

FREQUENTLY ASKED QUESTIONS

What is Private Properties Scheme (PPS)?

Am I eligible to use my CPF savings under PPS?

All CPF members who are eligible to buy a private property (EC) are eligible to use their CPF savings under PPS.

You are not eligible if:

you are buying a private property with a remaining lease of less than 30 years;
you are buying a private property with a remaining lease of less than 60 but at least 30 years and your age plus the remaining lease of the private property is less than 80 years;

You can check if you are eligible to buy an EC.

How much CPF savings can I use?

To help you set aside CPF savings for your retirement years, there are housing limits on the amount of CPF savings you can use to buy a private property.

Valuation Limit (VL) is the purchase price or the value of the private property at the time of purchase, whichever is lower.

Withdrawal Limit (WL) is 120% of the VL. This is the maximum amount of CPF you can use for the private property.

To continue using your CPF beyond VL, up to WL, you need to meet the following requirements:

Below 55 years old: To set aside the current Basic Retirement Sum (BRS) in your Special Account (SA), including the amount withdrawn for investment, and Ordinary Account (OA).
55 years old and above: To meet the BRS in your Retirement Account (RA), SA (including the amount withdrawn for investment) and OA.

I wish to use my CPF savings to buy a property with my future spouse. Are we allowed to submit our application before we register our marriage?

Can I use my CPF savings to pay stamp duty, survey and other related fees when I buy a property?

Can I use my CPF savings to pay the legal fees incurred when I buy a property?

What is the maximum monthly instalment amount that can be used for my property?

What is joint-tenancy?

What is tenancy-in-common?

A tenancy-in-common is a form of property ownership where each co-owner holds a separate and definite share in the property. However, all co-owners are entitled to the enjoyment of the whole property regardless of their share in the property.

The tenant-in-common's share in the property does not automatically pass on to the remaining co-owner(s). Upon the death of a tenant-in-common, his interest in the property will be distributed according to his will or if he has no will, it will be distributed according to the provisions of the Intestate Succession Act.

EC Payment Scheme

Developer allows buyers to choose either Normal Payment Scheme (NPS) or Deferred Payment Scheme (DPS). Price difference between NPS and DPS is around 3%.

Normal Payment Scheme (NPS)

Normal Payment Scheme (NPS), also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built.

Purchase Price	$1,000,000	Pay to Developer By
5% Upon the grant of Option to Purchase (OTP)	$50,000	Cash Only
15% Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date	$150,000	Cash, CPF or Both
Stamp Duty (3% less $5,400 if <= $1m or 4% less $15,400 if >.$1m)	$24,600	Cash, CPF or Both
Estimated Legal Fee	$3,000	Cash or CPF
5% On completion of foundation work	$50,000	Cash, CPF or Both
Total Fund Needed (Cash + CPF)	$277,600	Min. $50,000 Cash + CPF

Home Loan = $750,000 (75%) @ 2% Interest Rates for 30 Years	Est. Monthly Installment	Pay to Bank By
5% On completion of foundation work	$185	Cash, CPF or Both
10% On completion of reinforced concrete framework of unit	$561	Cash, CPF or Both
5% On completion of partition walls of unit	$750	Cash, CPF or Both
5% On completion of roofing/ ceiling of unit	$941	Cash, CPF or Both
5% On completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit	$1,134	Cash, CPF or Both
5% On completion of car park, roads and drains serving the housing project	$1,328	Cash, CPF or Both
25% On issue of Temporary Occupation Permit (TOP)	$2,309	Cash, CPF or Both
15% On Completion Date	$2,915	Cash, CPF or Both

Deferred Payment Scheme (DPS)

Deferred Payment Scheme (DPS) allows home owners to start servicing their loan only when the EC is ready for occupation, ie; when owners receive the keys to their EC. DPS is most popular amongst buyers who currently own a HDB and have monthly instalments to service. This allows them to better manage their finances as they do not have to service both loans (HDB & EC) concurrently.

Purchase Price (Normal Price + 3%)	$1,030,000	Pay to Developer By
5% Upon the grant of Option to Purchase (OTP)	$51,500	Cash Only
15% Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date	$154,500	Cash, CPF or Both
Stamp Duty (3% less $5,400 if <= $1m or 4% less $15,400 if >.$1m)	$25,800	Cash, CPF or Both
Estimated Legal Fee	$3,000	Cash or CPF
Total Fund Needed (Cash + CPF)	$234,800	Min. $50,000 Cash + CPF

No payment required until TOP (Key collection)	Nil	Nil

5% On issue of Temporary Occupation Permit (TOP)	$51,500	Cash, CPF or Both
Home Loan = $772,500 (75%) @ 2% Interest Rates for 30 Years	Est. Monthly Installment	Pay to Bank By
25% On issue of Temporary Occupation Permit (TOP)	$2,284	Cash, CPF or Both
15% On Completion Date	$2,823	Cash, CPF or Both

North Gaia @ Yishun

Upcoming EC @ Tengah

Upcoming EC @ Tampines