A very good day to you,
Here’s a breakdown of what you may afford with a fixed monthly income of $3,600 without outstanding loan:
Monthly fix income: $3,600
TDSR of 60%: $2,160 for Maximum Monthly Mortgage Payment
Mortgage Affordability Calculation of $2,160 Monthly Mortgage Payment at 3.5% Interest Rate and 30 years Loan Period :-
Maximum 80% Loan Amount: $480,000 (Rounded Down)
Maximum Total Property Price: $600,000
There are still limited 1 Bedroom new condominiums that fall below this $600,000 mark, the ready ones are starting from $680,000 and above.
One of these rare few new condominiums with potential good return is The Santorini at Tampines Street 86 (TOP 2018). As of today, there are only 17 of such units available starting from $570,000 to $600,000. Hurry grab 1 before it’s all gone!
Here’s the Summary of Fund required to own your first $600,000 New Condominium property:
5% Booking Fee (Cash): $30,000
15% (Cash/CPF - Upon 8 weeks of Exercising S&P): $90,000
BSD-Buyer Stamp Duty (Within 14 days after S&P): $12,600
ABSD-Additional Buyer’s Stamp Duty For 1st Property (Singaporean 0%/PR 5%/Foreigners 15%):
$0/$30,000/$90,000
*Minimum Initial Fund for Singaporean/PR/Foreigners: $132,600/$162,600/$222,600
*No Agent Fee Payable by Buyer of New Condominium*
Estimated Monthly Mortgage Payment based on 1.9% Average Interest Rate (Rounded Up):
10% Foundation Work (6 Mths): $220
10% Concrete Framework (6 Mths): $440
5% Brick wall (3 Mths): $550
5% Ceiling (3 Mths): $660
5% Doors & Windows (3 Mths): $770
5% Carpark (3 Mths): $880
25% Upon TOP: $1,430
15% Upon CSC: $1,760 (Less than $2,160 and partially deductible from CPF)
Please feel free to contact Karrien N. Chan, The Santorini Appointed Agent at
82250212
for further discussion or discount on selected Star Buy units and viewing.
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