Good morning SPR buyer,
Do take note that your initial outlay will be such as if you can obtain a 80% bank loan:
1) 5% cash downpayment and 15% CPF OA funds/ cash downpayment
2) estimated 3% buyer's stamp duty
3) 5% additional buyer's stamp duty as SPR
4) legal fees, valuation fees, stamp duty for mortgage etc
How much do you have for this initial outlay of around 28% of purchase price?
Btw I can also ask my banker to advise you on your in principle approval so you can gauge how much loan can you obtain.
Lastly, yes! You have to pay monthly or quarterly maintenance fee if you stay in private residential property.
Hope my explanation helps!
If you need any assistance in your property purchase, feel free to contact me. Cheers!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
R043025D
ECG Property Pte Ltd
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
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