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Hi gurus,

Let say I'm buying a flat that is $600k. I decided to use my CPF of $400k to pay for the initial payment and remaining $200k to take a bank loan.

Does the 5% cash initial payment set at 30k based on purchased price of $600k or I just need to pay $10k based on the $200k loan amount?

Thank you.
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4 Answers

Morning,

On getting the 80% loan, it's based on the valuation or purchase price, whichever is lower. Hence 20% down payment is based on the similar principle.

Do contact me further if you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi
It will be based on 600K, but valuation of the unit.
Hope this clarify. I would love to assist you further from here.
Tricia Tan 91442664  Read More
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Hi,

The 5% is still based on the purchase price, hence 30K in your scenario. Thanks and may I assist with your housing plans further?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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YT Tan (陈永达)
Good afternoon buyer,

The 5% cash downpayment will be based on lower of valuation of purchase price.

If you need any assistance or advice in your property purchase, feel free to contact me. I can assist further with a draft financial plan.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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