AskGuru Q&A Community

Hi,

You are not eligible for HDB or EC. You can apply for any new or resale private condo developments. For SPR 1st property purchase, typical breakdown as follows:
Cash 5%
Cpf 15%
Stamp duties & legal 8% approx
Max bank loan 80%

If your CPF monies is not sufficient, it will have to be top up by cash. Thanks and hope to understand your requirements and value-add further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Good morning Anup,

I am afraid to inform you that you are not eligible to purchase resale HDB or new EC as a single SPR but you are eligible to purchase private condos/ apartments and resale EC.

Your initial outlay will be as such if you are able to obtain 80% bank loan:

1) 5% cash downpayment
2) 15% CPF or cash downpayment
3) estimated 3% buyer's stamp duty
4) 5% additional buyer's stamp duty as SPR
5) $2.5k legal fees
6) $500 stamp for mortgage
7) valuation fee etc

Probably you can share how much finances (CPF OA funds and cash) you have on hand so I will be in a better position to advise and assist you.

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

Afternoon,

Given your current status, you would only be eligible to purchase private property. Assuming that your income and credit status is good, you should be able to obtain 80% loan. 5% cash is required for downpayment and balance 15% can be paid using CPF OA. ABSD for SPR buyer is 5%, on top of standard stamp duty of 3%. Legal fee would sum up to approximately $3500.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi there Mr Anup!

You will be able to go for Private Condo/Apartments.

Assuming $1mil property and you being able to take 80% bank loan.

5% cash $50k
15% Cash $150k
8% Stamp duty as SPR buying 1st property $80k
Other misc fees $3-5k

Hope this helps!

John Tan YS
ERA Realty Network Pte Ltd
R012788H
facebook.com/johntys
powersginvest.com
 +65 9633 8431  Read More