Hi Mr Ong,
Based on the limited info provided, I am assuming you are not more than 40 years of age and qualify for a loan tenure of 25 years and you're a Singaporean hence no ABSD payable.
Based on your income of $4500, the max loan you could get is approx $539,000.
Assume purchase price at $720,000
Downpayment (5% Cash): $37,500
Downpayment (15% CPF): $112,500
Stamp Duty: $17,100 (Cash/CPF)
Legal Fee: $3,000 (Cash/CPF)
Top-Up: (Cash/CPF)
Bank Loan: $539,000
Assuming you're prepared to wipe out $155,000 of CPF, you should have a cash balance of approx $24,000 after purchasing the property.
For a budget of $720,000, you could look at a 2-bedroom at Hougang Green or more choices if you're open to a Studio or 1-bedroom apartment too.
Feel free to contact me for a more precise calculation using your actual age, citizenship and other financial obligations (if any).
Best regards,
Jeron Lee
Mobile:
+65-90015060
Email: jeronlee@gmail.com
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