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Hi Mdm,

As both you and husband are SPRs, you will have to go for a maximum 75% loan from a bank. The remaining 25% has to be met by minimum 5% cash and the remainder by CPF. While this seems like the total outlay of 20k cash + 80k CPF meets this requirement, there are other costs that we need to factor in as well, including Buyer Stamp Duty and Legal Fees. It will be prudent to do a full financial plan before embarking on your intended purchase.

Looking forward to meeting up to understand your needs and requirements, so that we can find your dream home. Call or message me anytime at 96202483 .

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Hi,

You may contact me at 81291299  to find out more.

Regards
Agnes
PropNex Read More

Hi,

Congratulation for meeting the criteria of purchasing your 1st home in Singapore.

As SPR, you are not eligible for HDB loan thus you have to get your financial plan via bank. Unless one of you manage to convert from SPR to SC.
With $400k flat in mind your saving cash + CPF needed shall be as follow:

(1) 5% = $20k (cash)
(2) 20% down payment = $80k (cash and/or CPF)
(3) BSD (~3%) = $6,600 (cash - can be reimburse using CPF if there are sufficient in existing OA, not later)
(4) ABSD (5%) = $20k (cash - can be reimburse using CPF if there are sufficient in existing OA, not later)
(5) Legal fee = $2~2.5k
(6) mortgage stamp duty fee = $500
(7) Caveat + misc + insurance = $600

Hope the above answer to your main concerns, but if there are more queries, 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

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