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hi i am a 36 yr old single currently awaiting for my HDB loan approval. my cpf oa is about $83k+. my agent told me that based on her calculations she predicted HDB will only service at most $100K++ for the loan as my salary is only $1300.lets say if i buy a resale 3-room flat valuation $300k.do i need to pay of the remaining balance in cash?pls advice
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1 Answer

Mike Lim
Replied
Morning,

Your agent should have given you the complete computation, as to how much cash and CPF is required upon purchase of unit, based on certain price.
You are single, taking HDB loan, hence eligible for $15k housing grant, if this is your first unit. Assuming you have good credit record and you have being working in the same job for more than a year, HDB should be able to loan you nothing more than $120k. Plus $98k from CPF and grant, minus $4.6k for legal and stamp fee, you need to fork out another $87K cash, excluding COV and agent's commission.

FYI
Mike Lim
 96929209 
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