AskGuru Q&A Community

hi Gary,

assume COV is 30K,
you will need 5% cash for 400K, which is 20K;
The rest 15% from CPF, which is 60K.

Hence you will need total 50K cash (5%+COV), 60K CPF. If you do not have enough CPF, you can top up with cash.

Welcome to contact me if you need further assistance. Thanks.

Robert Peng 9800 1968 
Robertpeng001@gmail.com
CEA reg No.: R042525J
Huttons Relationship Group Read More

Afternoon Gary,

Assuming you are granted 80% loan, the computation is as follows:

15% CPF = $64.5k - $45k = $19.5k (Cash)
5% CASH = $21.5k
COV = Depending on the unit you are looking at
Legal & Stamp Fee = ~$10.8k (Based on purchase price of $480k.
As for how much is your max loan, it's dependent on the bank's decision.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More