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First time buyer - Cash to pay for a 3room flat.

Hi I wish to purchase a flat with my boyfriend, but only to get married if we really got a flat on hand. I am currently earning 2.1k, cpf has 10-15k, and he's studying, NS next year. we are both 22 years old, first time buying a flat. i was wondering if we were to get a 3 room flat for approx. 350k. and get grants from hdb for maybe 30k. how to calculate the downpayment cash/monthly installment cash that we have to fork out to buyer/agent/whoever. and what kind of loan we can get?
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1 Answer

Mike Lim
Replied
Afternoon Anna,

Based on your situation, it's might be possible to get 3 room resale unit within $350k if both of you are not particular about the location but you might have issues getting the amount of loan required to facilitate the purchase. The fact that your partner is not working will make it hard and tight for financial institution to grant you the loan required.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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  • AL
    Replied
    Noted with Thanks Mike. But for down payment alone, can I pay with the grant from HDB?

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