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Dear sir/mdm,

The maximum loan one is eligible in a real estate property purchase will be 75% of the value, with the 25% coming from CPF and cash, where cash component required will be 5% minimum, with remaining 20% coming from CPF and/or cash.

Assuming that the $100k CPF is for the 20% of the downpayment and not considering the various conveyancing and stamp duties required, you will need to have $25k in cash in order to purchase a property with a price tag of $500k.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi
In order to advise you further, I will need more information on your financial profile. Generally banks would grant you anloan of up to 75% of the house value. You can financed another 20% using combination of CPF and Cash while another 5% needs to be in cash. Assuming a home value of $1mil, $50k needs to be financed with cash while another $200k will have to be financed with a combination of CPF/Cash. For monthly loan mortage, you can finance it using CPF for both HDB and private property. Since you are single below 35, you are not allowed to purchase a HDB at the moment. However with your income exceeding the treshold for first timer grant and HDB loan, you will only be allowed to purchase a resale HDB without grant and took up bank loan assuming your income remains at this range when you turn 35. It is a good strategy to invest in private property at the moment since purchasing a HDB when you reach 35 is not advantegeous to you in terms of your income profile. Moreover trends has shown HDB depreciate in value and there is a very low chance of you being able to make a profit from investing in a resale HDB due to cooling measure and policies introduced by the government in recent years. You have a much higher chance of capital appreciation if you invest in private property. I do provide free and non obligatory consultation in regards to property transactions . In addition my services for purchase of private property is 100% free without needing to pay me any commission. My services includes sourcing a unit that matches your budget and requirement, arranging for viewings, negotiate on your behalf, ensuring you did not overpay for the unit beyond it's value and handling the purchasing processes. Do contact me at 93375051  for further discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi,

Based on your given figure of cash+CPF less than $100k, you will only be able to purchase a property not more than $400k.

This is because you will need to fork out minimum 25% as downpayment for a property purchase. And this is excluding the Buyer Stamp Duty and other miscellaneous fee.

I would suggest you hold back your purchase, and try to save as much money for downpayment. You could aim to purchase your property next year or the year after, after you have saved enough. It is always wise to stay prudent with your purchase, especially in times like today.

I am experienced and well-versed in both HDB resale and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More