2 Answers

YT Tan (陈永达)
Good morning buyer,

Let me help with this.

1) You are eligible for this amount depending on which loan you take: $269k (bank) to $297k (HDB)

2) If you take HDB loan, the 10% payment can be fully paid by CPF. If it's bank loan, you have to fork out 5% cash and 15% CPF or cash.

3) a) Legal fees depends on you are taking HDB or private loan.
b) valuation fee $200
c) resale submission fee $80
d) buyer's stamp duty payable by CPF/ cash
e) agent's commission 1% of purchase price plus GST

4) I will advise you to start house hunting 1 month before birthday because you can only ink on OTP on/ after you turn 35 years old.

5) Once you exercise to purchase an unit, the whole legal procedure might take up to 4 months.

Hope my explanation helps!

May i know how can I value add further in your property purchase?

- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(FB): www.facebook.com/yttanassetprogessor

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Good morning,

1) How much loan you can get will depends on how much unsecured loan you have on hand, your income status and balance lease of the unit that you are getting.
2) How much cash you need would depends on the purchase price, how much loan you can get and how much CPF you have on hand. If you are getting HDB loan, you can settle your 10% down payment using CPF. But if you are getting bank loan, 5% down payment have to be made with cash and balance 15% can be paid using CPF.
3) Chargeable fee will be standard stamp duty of around 3% and HDB legal fee of around S$500, depending on your purchase price.
4) You can only apply for the HLE when you turn 35 and the entire S&P process from point of document submission should not take more than 4 months.

Do feel free to contact me for further discussion.

Mike Lim
ERA Read More