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First time buyer, do not own any HDB. Would like to enquire about downpayment for private condo. Initial 5% in cash & 15% CPF/Cash - can these be loaned from banks? Is it better to buy private than resale HDB? Since resale HDB has high COV to be paid in cash too?
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2 Answers

J.A. Goh 吴永益
Replied
Hi C P,

No, the first 5% must be in Cash.
Next 15% either from CPF or Cash or Combine.
Only your 80% is loan from bank.

Whether to buy condo or HDB is a very subjective question. It all depends on your financial and what you wants your lifestyle to be. You are also right that HDB has a high COV, which some thinks is better to put this amount into the 5% cash for condo, but seeing in another way, the HDB loan will be much lesser than a condo. Your monthly installment amount will be greatly different.

Please feel free to drop me an email or call me directly for further discussion.

Thank you & Best Regards
J.A.Goh
ERA Marketing Director
HP: 9639 0350 
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg Read More
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  • CP
    Replied
    If buying private, am I eligible for CPF housing grant or is it only for HDB flat buyers? What are the chances you can borrow 90% bank loan from banks? When using CPF, what is the process & time frame involved before deciding on which private apt u buy? Thanks
Landon Chew
Replied
Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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