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Good day to you.

This can be challenging. For a bank loan, a 5% cash down payment is required upfront. The remaining amount will rely on the LTV and your TDSR, which will influence the loan amount that the bank can offer you. Ultimately, the amount of CPF funds you possess will dictate any extra cash top-up needed.

Let's collaborate to clarify the uncertainties before proceeding.

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$27500.

Sounds like you're in the midst of a home buying journey!

I'm a Harvard graduated real estate agent with a degree in economics, and have supported clients on more than $1 billion in transactions.

I can help with sourcing, viewing, own-stay & investment analysis, market comparatives, timeline planning, safe entry pricing and more. Feel free to reach out!

You will end up saving much more than $27,500 by using an experienced agent to support your purchase compared to DIY :)

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Assuming that $550k pricing is within valuation and also lease balance allows you to loan maximum 75% and CPF withdrawals, your cash needed will be 5% of the purchase price $27,500. Hope this helps!

——

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I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Hi,

1) The below tabulation is based on the following assumption:
(a) Your household income allowed you to receive 75% LTV of $550k
(b) Sufficient funds in CPF OA or available grants for
(i) 20% downpayment: $110k
(ii) Buyer stamp duty;$11.1k
(c) No COV in this purchase.

2) The cash needed for the purchase would be as follow:
(a) 5% downpayment: $27.5k
(b) Legal fees: $2.2k~$2.5k including GST & mortgage stamp duty.
You have to check with the lawyer whether they included GST & mortgage stamp duty in their service charge. Different films have different way of charges.

(c) Valuation & resale application: $200
(d) Microfilm, title search, caveat, etc: $500
(e) Property tax on the new purchase, the estimate amount depends on the HDB flat type:
(i) 3-room : $1.90/mth
(ii) 4-room : $11.95/mth
(iii) 5-room : $15.40/mth
(iv) Executive: $17.15/mth
The exact amount depends on when is the completion date.

(f) Mandatory basic Fire insurance for 5 yrs, one time payment for every 5 yrs:
3-room: $3.27
4-room: $4.59
5-room: $5.43
Exe: $6.68

(g) Mortgage insurance for the home loan:
This shall depends on different bank, insurance company, loan amount, loan tenure, etc:
Estimate aroung $18.67/mth ~ $34.12/mth (annual premium; $224.04 ~ $409.44).
Some banks are working with only certain insurance company, thus difficult to have to clearer estimation.

All The Best!!!

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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For a $550,000 resale HDB using a bank loan, here’s a clean, realistic breakdown of the cash you’ll need as a Singaporean:

1) Downpayment (Bank Loan)
• Minimum 25% of purchase price
• At least 5% must be cash

5% cash = $27,500
Remaining 20% can be CPF OA or cash.

2) Buyer’s Stamp Duty (BSD)
For $550k, BSD works out to $11,100
This can be paid using CPF OA or cash.

3) Cash Over Valuation (COV)
• Depends on valuation vs agreed price
• If valuation matches $550k, $0 COV
• If valuation is $530k, COV = $20,000 cash

4) Legal & misc fees
• Conveyancing, valuation, admin fees
• Roughly $3,000 to $4,000
• Mostly payable in cash first (CPF reimbursable later).

Minimum cash (best-case, no COV):
• Downpayment cash: $27,500
• Legal & misc: ~$3,000
???? ~$30,500 cash

More realistic buffer to be safe:

???? $35k–$50k cash, especially if COV applies.

If you want, I can help you:
• Check how much bank loan you’re likely to get
• Estimate COV risk for the areas you’re looking at
• Plan CPF vs cash so you don’t overstretch

Aren Goh, PropNex
 9657 6701  Read More