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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, yes you could use a portion of your CPF to pay too.

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Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hello

How much down payment?

How do I calculate my down payment?

Is putting 20 down on a house worth it?

Can I buy a house with 5% down payment?

How much do I need to put down on a 400k house?

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Hi

I can assume that you are asking about buying a HDB resale flat.
This will depend on whether you are taking a bank loan or HDB loan. You may text 9620 027 for a chat. We can share with you the transaction process, timeline and estimated financial commitment.

Regards

Gavin Read More

Hi,

I just happened to do a calculation for a $400k HDB purchase lately.
There are 2 types of loans available for SC; HDB or bank. But as an SPR, you will only eligible to apply for a bank loan.

HDB loan: (2.6%)
Downpayment: 10% (CPF and/or grant) = $40k
Max. Loan-To-Value: 90% = $360k (household income ~ $5,500/mth), assuming able to take 25 loan tenure, assume you are at most 40 years old or less than. The loan amount will reduce if you are older, as this affects your loan tenure.
Buyer Stamp duty (~3%) = $6,600 (CPF if sufficient)
Legal fee (HDB): $797 (CPF if sufficient)
Mortgage stamp duty: $500 (CPF if sufficient)
Estimate Cash: $6k (including $5k option deposit + exercising fee, and miscellaneous)

Bank loan: (1.4x%)
Downpayment: 5% (cash) + 20% (CPF +/or CPF) = $20K + $80k
Max. Loan-To-Value: 75% (Household income ~ $4,600/mth, assumption as above)
Buyer stamp duty, mortgage stamp duty = same as above
Legal fee (Private): ~$1,500
Estimate cash: 5% + miscellanous ($1k)

Do note be careful not to over budget, or you might lose money for not able to exercise the OTP, or unable to pay this essential item.
Cash-Over-Valuation (COV): I have to remind you to take extra care in today's market, that COV is coming back. Thus practice due diligence before committing. As this will eat into your cash budget.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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