AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi,
I am Singaporean 45 years old. My wife is from China and holding long term visit pass but not working.

My monthly income is 5k.
My CPF OA is about $250000.
I intend to buy 3 room resale flat use all available CPF but no cast or minimum cash
Can l afford to buy 3 room resale flat ? What is price of flat that I can buy ?

Thanks
0 •
506 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Johnny Goh Mui Huat
Replied
Dear Mr Boon,

Since your monthly salary is below $6k, I would suggest that you apply for HLE first. You can avoid paying 5% cash deposit by using HDB loan instead of bank loan. Based on your HLE, we can determine what price range of flat you should look out for so as to avoid paying cash in future as monthly instalment.

However, some other misc fees such as valuation fees, HDB admin fees and agent services fees need to be pay by cash.

Hope that I have answered your question.

Feel free to contact me if you need any assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com Read More
0
Upvote Upvoted
Johnny Goh Mui Huat
Replied
Dear Mr Boon,

Since your monthly salary is below $6k, I would suggest that you apply for HLE first. You can avoid paying 5% cash deposit by using HDB loan instead of bank loan. Based on your HLE, we can determine what price range of flat you should look out for so as to avoid paying cash in future as monthly instalment.

However, some other misc fees such as valuation fees, HDB admin fees and agent services fees need to be pay by cash.

Hope that I have answered your question.

Feel free to contact me if you need any assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com Read More
0
Upvote Upvoted
Mani Subramanian Veeramani
Replied
Dear Mr. Boon Yiaw Lau

Check buyer eligibility here...
https://goo.gl/tEoOUI

Check it out these useful posts...

https://www.linkedin.com/pulse/7-cpf-housing-grants-hdb-flats-everyone-needs-know

https://www.linkedin.com/pulse/what-you-should-know-before-buying-resale-hdb-flats

https://www.linkedin.com/pulse/download-resale-checklist-hdb-buyers-sellers-subramanian-veeramani

https://www.linkedin.com/pulse/9-steps-how-buy-resale-hdb-flats-guaranteed-stress-mani

There is so much other important information that you should know…

First I educate my buyers and sellers, help them to make an informed decision.

That’s why there are more than 11,400+Fans following me on LinkedIn
https://www.linkedin.com/in/AskRealtorMani

Check it out these 400+ posts, contains useful guides & tips, etc.

https://www.linkedin.com/in/AskRealtorMani/recent-activity/posts/
DOWNLOAD, forward/share with your Facebook friends as well.

“The Ultimate Home Buyer’s-Seller’s Guide”
https://goo.gl/A7Kx7w

Mani
Connect & Follow https://www.linkedin.com/in/AskRealtorMani
Questions? #AskRealtorMani Call/SMS/WhatsApp +65 8300 4411  Help@AskRealtor.sg
Live Chat: https://www.linkedin.com/messaging/compose
https://www.facebook.com/AskREALTOR.sg/messages/ Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions