Asked by Arjun K A
Hello,
I am interested in buying a property as an investment as well as to rent it out. I am currently a S'pore PR (SPR) and so is my brother and parents. Both myself, and my brother, are above 21yrs of age.
From what I understand, I can't apply for HDB as both my parents are SPR. What about condo? I heard that it needs 5% cash downpayment and 15% cpf downpayment. Am I right? I have no issue with the 5% cash downpayment but I do not have have enough cpf money to cover the 15%. Can I opt to pay this via other means? Like bank loans or housing loans? OR combine mine and my brother's cpf? How about monthly installments? For condos, can we pay installements from cpf or bank transfer or a mix of both these?
I am just confused about all these rules as there are so many of them. Any help will be highly apreciated.
Regards,
coolgeek84
I am interested in buying a property as an investment as well as to rent it out. I am currently a S'pore PR (SPR) and so is my brother and parents. Both myself, and my brother, are above 21yrs of age.
From what I understand, I can't apply for HDB as both my parents are SPR. What about condo? I heard that it needs 5% cash downpayment and 15% cpf downpayment. Am I right? I have no issue with the 5% cash downpayment but I do not have have enough cpf money to cover the 15%. Can I opt to pay this via other means? Like bank loans or housing loans? OR combine mine and my brother's cpf? How about monthly installments? For condos, can we pay installements from cpf or bank transfer or a mix of both these?
I am just confused about all these rules as there are so many of them. Any help will be highly apreciated.
Regards,
coolgeek84
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