AskGuru Q&A Community

Hi Shawn,

May I know which project are you referring to? Yes its possible the 220k be payable in a combination of cash+cpf, if you do not wish to loan the full 80%. You just need to note the payment sequence of cash -> cpf - > loan.

In this case, usually its progressive payment schedule, you will be paying the developer direct when the construction milestone is reached. Your law firm will call for the payment amount accordingly and the funds need to be ready.

May I know which project you are referring to? Will be glad to illustrate the full financial breakdown and what to expect in each construction milestone stage so you know how much to pay and when to pay. Thanks and hope to understand your requirements further so to make better recommendations and value-add to your plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi,
1. yes, 15% can be cash + CPF
2. the max loan is 80%, so you can loan lesser.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi Shawn,

Yes you can use more cash if you want to; however, do note that should you decide to take up 60% loan, your CPF OA will be "reserved" for the 20% of progressive payments that you're not borrowing for. Hence, you might want to consider paying the extra cash upfront, as you might not have the chance to use it for the progressive payments later on. However, all these depends on how much cash, CPF OA, and which project you're talking about.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards.
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Hi Shawn,

1. The balance 15% can be in Cash or CPF or a mixture of both. However, do note that if this property is your 2nd property, then there will be some restrictions on the use of your CPF.

2. It is possible to loan less than 80%. You may want to use your CPF fully while keeping some of your excess cash in pocket since interest rates are still relatively low. You can use the loan to provide a greater leverage towards your property investment. The excess cash can be channelled to other investment products which in turn may give you a greater return.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Good evening Shawn,

If you are looking to loan up to 60% bank loan for your first property purchase, your initial outlay will be at least 5% cash while the rest can be a mixture of CPF and cash.

As it will be a progressive payment, once the developer calls for payment, your law firm will contact you for payment.

By the way, dont forget you have to pay estimated 3% buyer's stamp duty for this purchase. Other expenses will be like legal fees, valuation fees etc.

Hope my sharing is beneficial to your property purchase.

May I know how can I continue to value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More