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Gurus, with pay of 7.5Kmth & cpf OA(190k),SA(55k)= 245k. Qn1) Assume 10%cash+set aside cpf min sum 65.5k,my bal: 245-65=180k (OA/SA), is this the whole amt i can use for condo downpayment? Qn2)Is it reasonable to aim for 1-2bdrm condo (near mrt,east) at 550-680K (im expecting 60% bankloan as there's HDB mortgage(700/mth via spouse's cpf,MOP completed). Appreciate your advise, tks.
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2 Answers

Mike Lim
Replied
Afternoon Issac,

Only CPF OA can be used for purchases made on properties. SA cannot be used, unless on special situations.
After setting aside the CPF minimum sum, you have around $120k. Bank can loan you a max of 60%, with which 10% must be cash. With $600k worth of property, you will need to have $60k worth of cash and $180k in CPF.
With this figures, unless you have extra cash, you might still fall short.

FYI
Mike Lim
 96929209 
ERA Read More
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Choo Jia Ming
Replied
Dear Issac,

You may like to consider Waterbank@Dakota, which is an attractive location- near to MRT, food and amenities.

I look forward to hear from you soon

Thanks.
Choo Jia Ming
B. Hons (EEE)
Savills Sales Director
HP: 9476 2732 
Email: jiaming.choo10@gmail.com
Salesperson registration. no: R026370F Read More
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