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Afternoon Master,

1) BSD - $24,600
2) ABSD - $70,000
3) 5% cash downpayment - $50,000
4) legal fees - $3000
5) stamp duty for mortgage - $500
6) valuation fee - $350 to $500
7) shortfall in CPF - ????

Without including the possible shortfall in CPF, it will be around $150,000 for a $1M property purchase.

You have to take note that to utilise CPF OA for second property purchase, you will subject to keep a minimum sum of $69,500 (OA + SA) then you can use the excess to pay the 15% CPF downpayment.

Hope it helps!

If you need any assistance in property purchase, I just a call away.

Cheers!

Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Evening,

With your statement, I would assume that you are SC, who have fulfilled the MOP and cleared your existing mortgage loan. You are also taking loan which is less than 30 years or not exceeding 65 years of age. If this is the case, the sums are as stated below:

1) 5% cash: $50k
2) 7% ABSD: $70k
3) Standard Stamp Duty: $24.6k
4) Legal Fee: $2.8k to $3k
5) Misc: $1k

Assuming that you are paying your standard stamp and legal fee by cash, you will need around $150k cash. Do note that you are required to fulfill the CPF minimum sum requirement if you have utilized CPF for your first mortgage.

Regards
Mike Lim
 96929209 
ERA Read More

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