Eric & Trislyn — Property Planning
Upgrade Financial Clarity Report
To compare
3 possible upgrade routes
— resale private condo,
private new launch, and EC new launch — by looking at cash required, CPF usage,
loan comfort, monthly repayment, rental/renovation buffer, and transition timing
before making a commitment.
Prepared by Connie Tan | ERA Realty Network P/L | CEA Reg. R059037E | HP 9272 5986
. Decision Frame
What This Report Is Meant To Clarify
1. Can the purchase be funded?
We compare the available CPF/cash from sale against each route’s required funds, so the additional cash/CPF gap is clear.
2. Can the monthly payment feel safe?
We compare TDSR, MSR, car loan impact, interest-rate sensitivity and expected mortgage.
3. Can the family handle the timeline?
We compare resale private, private new launch and EC new launch timing, including rental and renovation buffers.
Notes correct as at May 2026
Goal(s):
• For own stay
• Preferably within 1km from good school, no specific school identified yet
• Own multiple appreciating assets / properties
For info:
Building Under Construction (BUC) refers to uncompleted private condos
and ECs before TOP. Both private new launches and EC new launches follow progressive payment.
In addition, selected EC new launches may offer deferred payment. No deferred payment scheme applies
to Government Land Sales EC sites with tenders closing from 8 May 2026 onward.
. Working Figures
Figures for Sale of Existing Property (CAA 14 May 2026)
Input Variables for Live Calculation
Income and Loan Inputs
Calculated value:
$1,739,017
Calculated value:
$1,058,597
Property and Sale Inputs
This already includes the 3% deferred-payment premium.
Intended Selling Price
$740,000
Will review prior to marketing it.
Outstanding Loan
$355,000
Existing HDB loan.
Total CPF Refund
$296,023
Eric + Trislyn CPF refund.
Gross Cash Proceeds
$88,977
To consider other expenses and fees.
Figures for New Purchase
Resale Private Condo
Intended Purchase Price
$2,400,000
Loan:
$1,739,017
Loan percentage used:
72.46%
Private New Launch
Intended Purchase Price
$2,400,000
Loan:
$1,739,017
Loan percentage used:
72.46%
EC New Launch
Intended Purchase Price
$1,800,000
Loan:
$1,058,597
Loan percentage used:
58.81%
EC Bridging loan: Est.
$311,000
Extra Cash | CPF Required (Based on Above Figures)
Resale Private Condo
$387,798
Cash only: $120,000 (5%) | Cash first: $89,600 (BSD) needed by first 4 weeks.
BSD paid in cash first can be reimbursed from CPF upon completion.
Private New Launch
$387,798
Cash: $120,000 (5%) | Cash or CPF: $360,000 (15%) | Cash first: $89,600 (BSD) needed by first 8 weeks.
EC New Launch
$478,077
Cash: $90,000 (5%) | Cash or CPF: $270,000 (15%) | Cash first: $59,600 (BSD) needed by first 8 weeks.
EC resale levy excluded; timing depends on purchase/payment requirements.
Important:
Est. additional Cash | CPF gap after using sale proceeds, for discussion.
Final numbers must be verified with HDB, CPF, bank, lawyers, developer and transaction documents.
Remarks:
Reno/furnishing buffer and temporary accommodation cost are planning buffers and are not included in the main cash required cards above. Deduct or set aside separately where needed. Final bridging amount and eligibility are subject to bank approval.
. Sale Position
Sale Proceeds Calculation
View Sale Proceeds Calculation
| Sale Proceeds Calculation | Amount |
|---|---|
| Assumed HDB selling price | $740,000 |
| Less outstanding HDB loan | ($355,000) |
|
Less CPF refund — Trislyn
Includes accrued interest of $14,372.
|
($136,288) |
|
Less CPF refund — Eric
Includes accrued interest of $17,507.
|
($159,675) |
|
Estimated gross cash proceeds
Before selling costs.
|
$88,977 |
| Less selling agent fee, 2% | ($14,800) |
| Less GST on agent fee, 9% | ($1,332) |
| Less estimated legal fee | ($3,000) |
| Estimated net cash proceeds after sale costs | $69,845 |
| Add CPF returned to OA | $296,023 |
| Total usable CPF + cash | $365,868 |
Key Sale Proceeds Summary
CPF Returned To OA
$296,023
Can potentially be used for next purchase, subject to CPF rules and property type.
Net Cash After Selling Costs
$69,845
Before setting aside moving, renovation, rental and emergency buffer.
Total Usable CPF + Cash
$365,868
This is the key working number before any EC resale levy.
. Loan Comfort
Income and Loan Capacity Snapshot
View Income and Loan Capacity Snapshot
| Income / Commitment | Gross | Haircut | Assessable |
|---|---|---|---|
| Eric fixed income | $7,900.00 | 0% | $7,900.00 |
| Eric variable income | $2,304.00 | 30% | $1,612.80 |
| Eric assessable income | — | — | $9,512.80 |
| Trislyn fixed income | $7,000.00 | 0% | $7,000.00 |
| Trislyn variable income | $1,375.00 | 30% | $962.50 |
| Trislyn assessable income | — | — | $7,962.50 |
| Total assessable income before car loan | — | — | $17,475.30 |
| Existing car loan under Eric | ($1,000.00) | Debt | Deducted under TDSR |
| Existing car loan under Trislyn | ($0.00) | Debt | Deducted under TDSR |
Temporary rental if waiting for TOP is estimated at
$4,000/month x 36 months = $144,000
.
Private Condo TDSR Capacity
Eric
$4,232.04/mth
55% of assessable income, less Eric’s car loan.
Trislyn
$4,379.38/mth
55% of assessable income, less Trislyn’s car loan.
Combined Private Condo TDSR Capacity
$8,611.42/mth
Estimated after haircut on variable income and less existing car loans. Bank IPA required.
EC MSR Capacity
Eric
$2,853.84/mth
30% of assessable income.
Trislyn
$2,388.75/mth
30% of assessable income.
Combined EC MSR Capacity
$5,242.59/mth
Estimated 30% of assessable income. This is likely the tighter test for EC.
Planning Tenure
Eric
37
Age affects loan tenure and approval conditions.
Trislyn
36
Final tenure subject to bank assessment.
Planning Tenure
28 yrs
Used for mortgage comparison in this report.
. Payment Timeline
3-Route Timeline Comparison
View Detailed Timeline Table
| Timing | Resale Private Condo | Private New Launch | EC New Launch |
|---|---|---|---|
Purchase Price |
$2,400,000 |
$2,400,000 |
$1,800,000 |
Week 1 |
Cash only — 1% option fee: $24,000 |
Cash only — 5% booking fee: $120,000 |
Cash only — 5% booking fee: $90,000 |
Week 2 |
Cash only — 4% exercise fee: $96,000 |
— |
— |
Week 3 |
— |
Sign S&P and prepare BSD. | Sign S&P and prepare BSD. |
Week 4 |
Cash first — BSD: $89,600 |
— |
— |
Week 5 |
— |
Cash first — BSD: $89,600 |
Cash first — BSD: $59,600 |
Week 8 |
— |
Cash | CPF — 15% downpayment: $360,000 |
Cash | CPF — 15% downpayment: $270,000 |
Week 12 |
Cash | CPF completion balance: $540,983 |
Progressive payment planning continues. | Progressive payment planning continues. |
Week 13 / Until TOP |
Monthly mortgage starts after completion. | Progressive payment by stage. Mortgage starts lower and increases by stage. | Progressive payment by stage, unless deferred payment applies. |
At / Near TOP |
Already completed route. | Loan drawdown may reach about 60% by TOP. Remaining 15% is usually payable later. | Similar under progressive payment. Deferred payment generally starts instalments from TOP. |
Remarks |
Reno / furnishing: $100,000 , subject to condition. |
Rental while waiting for TOP: $144,000 . |
Same rental assumption applies. Deferred payment may defer mortgage until TOP. |
Payment Timeline — Figures Only
| Timing | Resale Private Condo | Private New Launch | EC New Launch |
|---|---|---|---|
Purchase Price |
$2,400,000 | $2,400,000 | $1,800,000 |
Week 1 |
Cash only 1%: $24,000 |
Cash only 5%: $120,000 |
Cash only 5%: $90,000 |
Week 2 |
Cash only 4%: $96,000 |
— |
— |
Week 4 / 5 |
BSD cash first: $89,600 |
BSD cash first: $89,600 |
BSD cash first: $59,600 |
Week 8 |
— |
Cash | CPF 15%: $360,000 |
Cash | CPF 15%: $270,000 |
Week 12 |
Cash | CPF: $540,983 |
By stage | By stage / Deferred |
Final cash required may be higher if approved loan is below the intended amount or if CPF usage is lower than expected.
. Mortgage Sensitivity
Estimated Monthly Mortgage
Assumption:
28-year
tenure. 4%
is used as a more stringent stress-test rate. Figures are estimated
for comparison only. Actual instalment depends on final loan quantum, bank package, approval and repayment structure.
| Rate / Loan | Resale | Private NL | EC Prog. | EC Deferred |
|---|---|---|---|---|
Est. Loan |
$1.739M | $1.739M | $1.028M | $1.059M |
2% |
$6,763.57 | $6,763.57 | $3,999.15 | $4,119.13 |
3% |
$7,656.31 | $7,656.31 | $4,527.10 | $4,662.99 |
4% Stress |
$8,611.42 | $8,611.42 | $5,092.13 | $5,242.59 |
Loan figures are based on the TDSR/MSR loan calculations above, unless manual loan override is used.
. Route Financial Comparison
3 Purchase Routes — Cash, CPF and Risk View
| Item | Resale Private Condo | Private New Launch | EC New Launch |
|---|---|---|---|
Purchase price |
$2,400,000 | $2,400,000 | $1,800,000 |
Loan used |
$1,739,017 | $1,739,017 | $1,058,597 |
BSD |
$89,600 | $89,600 | $59,600 |
Legal |
$3,000 | $3,000 | $3,000 |
EC resale levy |
— |
— |
$40,000 assumed for 4-room HDB |
Rental / Reno |
Reno / furnishing: $100,000 est. | Rental: $144,000 est. | Rental: $144,000 est. |
| Gross funds needed | $753,583 | $753,583 | $844,003 |
Available CPF + cash from sale |
$365,868 | $365,868 | $365,868 before resale levy |
| Est. gap before savings | $387,715 | $387,715 | $478,135 |
Key to Note |
Completion funding and reno buffer must be planned. | Large downpayment, but payment is staged. | Lower price, but MSR / eligibility / resale levy may restrict. |
. EC Deferred Payment
EC Deferred Payment Illustration
| Item | Progressive Payment | Deferred Payment, est. 3% premium | Remarks |
|---|---|---|---|
Purchase price |
$1,747,573 | $1,800,000 | Deferred price is treated as the 3% premium price. |
Loan |
$1,027,764 | $1,058,597 | Based on MSR-limited loan and same loan percentage. |
Monthly mortgage |
$5,092.13 | $5,242.59 | Based on 4% stress-test rate. |
Remarks |
Mortgage increases progressively as construction stages complete. | Instalments are generally deferred until TOP, subject to project and bank terms. | Final funding must still be secured. |
EC still requires eligibility checks, MSR assessment, income ceiling confirmation and resale levy planning.
Deferred payment may help timing, but final funding must still be secured.
. Decision Scorecard
Route Scorecard
| Decision Factor | Resale Private Condo | Private New Launch | EC New Launch |
|---|---|---|---|
Cash pressure |
High and faster | High, but staged | Lower price, resale levy applies |
Monthly pressure |
Starts after completion | Starts lower, increases progressively | MSR may restrict loan |
Timeline ease |
Fastest move-in | Need temporary accommodation | Need temporary accommodation |
Eligibility risk |
Lowest | Lower | Highest due to EC rules, MSR and income ceiling |
Flexibility |
Higher | Medium | Lower due to EC conditions / MOP |
Current fit |
Possible only if IPA and cash gap are comfortable | Possible if downpayment gap and waiting period are managed | Attractive only if eligibility and MSR work |
Next Step
At this stage, the next move is to verify bank IPA, EC eligibility and be ready to put up HDB for sale.
. Next Steps
What To Confirm Before Deciding
1. Bank IPA
Confirm max loan, monthly instalment and loan tenure.
2. CPF Statement
Verify final CPF refund, accrued interest and usable OA.
3. HDB Sale Price
Review $740,000 assumption before marketing.
4. EC Eligibility
Confirm income ceiling, ownership status and buyer profile.
5. MSR Check
Check whether EC loan is restricted below the required amount.
6. Temporary Accommodation
Stay with parents or budget $4,000/month for 36 months if waiting for TOP.
7. Renovation Buffer
For resale private, set aside an estimated $100,000 buffer.
8. Emergency Buffer
Keep sufficient cash after downpayment, BSD and moving costs.
Next conversation:
Now that we have reviewed the affordability, let’s decide which route is safest,
most realistic and most comfortable. We can rank the routes and discuss your ranking.
Disclaimer:
This report is for discussion and planning only. All figures are estimates and must be verified
with HDB, CPF Board, banks, lawyers, IRAS, developer and other relevant parties. Loan approval, CPF usage, stamp duties,
EC eligibility, resale levy and payment timelines are subject to final confirmation and prevailing rules.
Connie Tan | ERA Realty Network P/L | CEA Reg. R059037E | HP 9272 5986