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Hi. For A BTO Date Of Purchase: 02 Apr 2011, one is eligible to purchase a condo only after 01 Apr 2016. Right? Also what is the current market price for a new launch Condo (mid floor) in Potong Pasir?
If one has pay off the loan by 01 Apr 2016 with CPF, is the max. bank loan 80%? Does this mean one have to fork out 20% cash upfront himself/herself? On top of that, does one also have to prepare a cash sum for stamp duty (3%), property tax (4%), down payment (10%) and what-other-fee?

A step-by-step detailed breakdown guide would be most preferred.
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1 Answer

Hi Nana,

For BTO, you are require to filfill the MOP of 5 years before you are eligible to buy a Pte property. The 5 years starts on the day you collected the key, not the date of purchase.

If you do not have any existing mortgage loan during your next purchase, you are eligible to max 80% bank loan and the downpayment will be 20% (5%: Cash + 15%: Cash/CPF).
Please do note that you need to keep aside a minimum sum inside you OA in your CPF before you are able to utilize them.

Cheers,
William Koh
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