See the true value of your
EC with
NO Resale
Levy
Household income ceiling
raised to $14,000
Your Affordable
Investment
Mr and Mrs Lim intend to purchase a
4-Bedroom unit EC of $890,000 under the Normal Payment Scheme. They
are second time buyers and draw a combined monthly household income
of $11,000.
Purchase Price
$890,000.00
5% Downpayment (cash)
$ 44,500.00
Balance 15% Booking Fee
(CPF/Cash) $133,500.00
Balance amount
$712,000.00
Less Sales Proceed from the existing
house* $200,000.00
Housing Loan $512,000.00
Monthly installment** $ 2,170.13
Monthly CPF Contribution to Ordinary
Account*** $
2,100.00
Cash Top up Per Month $
70.13
Total Cash Outlay if the EC is subjected to
Resale Levy $89,500
Resale Levy of 5-Bedroom HDB unit
$45,000**** +5% booking fee $44,500
* Assume the existing house will be sold at $400,000
** Loan of 25 years and based on interest rate of 2.0%
*** Couples above 35 years old to 45 years old, with total
combined household income of $11,000 (assuming $5,500 each)
**** Resale application to sell the first subsidised flat was
received on or after 3rd March 2006