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Hi,

1) Any EC that had met MOP is considered private to any SC & SPR.
2) This means you as an SC is buying a private residential property.
3) Any EC, new or old, can only apply bank loan to purchase.
4) 5% cash, 20% cash, and/or CPF, maximum 75% LTV applied for any private residential property.
5) You are subject to TDSR assessment to determine whether you are able to receive this 75% LTV.
6) Using a simple TDSR calculation, assume there is no outstanding loan, and further assume an employed w/mthly CPF contribution an income of $3,500 is able to receive a loan of $460k which is about 75% of $600k.
7) You are also able to buy together with a friend but do consider the implication that you might get involved in a later stage.
8) Current in the market, with your budget, you properly only able to buy Sol Acres, 1bdr in CCK.
9) You have to discuss with your friend how you intend to split the share and cost. It can be 50-50 or other type but make sure you choose Tenancy-In-Common rather than Joint tenancy.

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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Dear sir/mdm,

Since you are ineligible to purchase HDB, you will also be ineligible to purchase a brand new EC, therefore your only options are in the resale segment where they are all considered private properties, therefore no grants are available.

Bank loan is available for such purchase subject to income and age of borrower (borrowers must be owner of the property), capped at 75% of the purchase price or valuation of the unit whichever is lower, therefore at a targeted price of $600,000, you will need to have $150,000 ready funds of which $30,000 must be in cash for the purchase, should you be able to secure the loan for the rest of the amount.

Do take note that there is also purchase stamp duty of 3% - $5,400 applicable on this intended purchase.

If you are looking to purchase together with a friend, you can work out on the terms together and hold this property either in joint tenancy or tenancy in common where you can decide how much shares each of you to own in this property.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,
Based on the details, you are only eligible to buy EC that had met MOP.
If you need further assistance, feel free to contact me.
I can be reached at @ 97100155 
Pei ERA Read More

Hi Do contact me at 97970200  to discuss more and assist you in your planning and purchase

Mark, your RIGHT choice
Propnex Read More

Hi,

Purchasing a resale EC is somewhat equivalent to purchase a private property. This means that there will not be any Grants available, and you can only take financing from Bank.

As per all private purchases, you will need to downpay at least 25% of the property, out of which 5% is to be in Cash. The balance 20% can be in form of CPF-OA funds. This is assuming you qualify for the max 75% loan.

And yes, you can purchase a private property together with your friend. The percentage split can be discussed amongst yourselves.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More