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Hi, I am SPR currently looking to purchase a HDB. There are a few questions that I need advise from guru here.
1. understand that I can only go for bank loan, do I need to get approval first before searching for HDB? or after OTP then get the approval? will I confirm on getting 80% of the loan?

2. how is the payment schedule? like when to pay COV, 20% downpayment, stamp duty, etc?

Thanks in advance
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1 Answer

Mike Lim
Replied
Afternoon John,

Firstly, are you buying the resale HDB with your spouse or intend to get it under single scheme? If your are looking at single scheme, you might need to change your plans.

Secondly, it's unwise to buy without knowing how much you can afford. Getting a banker to assess you will determine your buying power and financial standing.

Lastly, if you get an 80% loan, 5% must be cash and 15% in CPF / CPF + Cash / Cash. All this figures are to be paid 3 weeks before HDB completion though the lawyers will have your CPF component ready for the purchase before that.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
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