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.

Loan-to-value (LTV) for EC

Loan TenureUp to 30 YearsUp to 30 Years31 to 35 Years
Sum of Tenure & Age of Borrower (at application)<= 65 Years<= 65 Years<= 75 Years
Loan-To-Value (Max. Home Loan)75%55%55%
Min. Cash Down Payment5%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
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
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
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
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
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
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

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$1,000,000Pay to Developer By
5% Upon the grant of Option to Purchase (OTP)$50,000Cash Only
15% Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date$150,000Cash, CPF or Both
Stamp Duty (3% less $5,400 if <= $1m or 4% less $15,400 if >.$1m)$24,600Cash, CPF or Both
Estimated Legal Fee$3,000Cash or CPF
5% On completion of foundation work$50,000Cash, CPF or Both
Total Fund Needed (Cash + CPF)$227,600Min. $50,000 Cash + CPF
Home Loan = $750,000 (75%) @ 2% Interest Rates for 30 YearsEst. Monthly InstallmentPay to Bank By
5% On completion of foundation work$185Cash, CPF or Both
10% On completion of reinforced concrete framework of unit$561Cash, CPF or Both
5% On completion of partition walls of unit$750Cash, CPF or Both
5% On completion of roofing/ ceiling of unit$941Cash, CPF or Both
5% On completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit$1,134Cash, CPF or Both
5% On completion of car park, roads and drains serving the housing project$1,328Cash, CPF or Both
25% On issue of Temporary Occupation Permit (TOP)$2,309Cash, CPF or Both
15% On Completion Date$2,915Cash, 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%)$1,030,000Pay to Developer By
5% Upon the grant of Option to Purchase (OTP)$51,500Cash Only
15% Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date$154,500Cash, CPF or Both
Stamp Duty (3% less $5,400 if <= $1m or 4% less $15,400 if >.$1m)$25,800Cash, CPF or Both
Estimated Legal Fee$3,000Cash or CPF
Total Fund Needed (Cash + CPF)$286,300Min. $50,000 Cash + CPF
No payment required until TOP (Key collection) NilNil
5% On issue of Temporary Occupation Permit (TOP)$51,500Cash, CPF or Both
Home Loan = $772,500 (75%) @ 2% Interest Rates for 30 YearsEst. Monthly InstallmentPay to Bank By
25% On issue of Temporary Occupation Permit (TOP)$2,284Cash, CPF or Both
15% On Completion Date$2,823Cash, CPF or Both

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