Hi Low,
I'm making the following assumptions:
1) You're a Singapore buying your 1st/2nd property; or a PR buying your 1st property.
2) No outstanding mortgage loan.
3) 80% ($480K) bank loan.
For a $600K condo, you'd need:
- $42.6K cash for 5% option fee and stamp duty.
- $90K CPF OA and/or cash for balance 15% downpayment.
Note: Stamp duty could be paid using CPF but you still need to come up with the cash first and reimbursed by CPF later.
Main difference for new vs resale is you'd pay the 5% cash upfront for new launch and 1% + 4% (2 weeks later) for resale.
Best regards,
Jeron Lee
Jones Lang LaSalle Residential
Mobile/WhatsApp:
9001-5060
Email: jeron.lee@jllassoc.com
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