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Hi

You may text 9620 0827  for a casual chat. We can share with you the transaction process, timeline and a financial structure.

Have supported numerous SPR/SPR in their purchase.

Regards

Gavin Read More

Hi,

I just happened to do a calculation for a $400k HDB purchase lately.
As an SPR, you will only eligible to apply for a bank loan.

Bank loan: (1.4x%)
Downpayment: 5% (cash) + 20% (CPF +/or CPF) = $20K + $80k
Max. Loan-To-Value: 75% (Household income ~ $4,600/mth, assumption as above)
Buyer stamp duty (~3%): $6,600 (CPF if sufficient)
Mortgage stamp duty = $500same as above
Legal fee (Private): ~$1,500
Estimate cash: 5% + miscellaneous ($1k). This 5% will include your option and exercise fee.

Do note be careful not to over budget, or you might lose money for not able to exercise the OTP, or unable to pay this essential item.
Cash-Over-Valuation (COV): I have to remind you to take extra care in today's market, that COV is coming back. Thus practice due diligence before committing. As this will eat into your cash budget.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi

As you and wife is a all PR household, you are only eligible for a bank loan. Here's breakdown for a $400,000 resale:

CPF or Cash:
20% Deposit: $ 80,000
Buyer Stamp Duty: $6,600
Additional Buyer Stamp Duty: $20,000
Legal Fees: $2,000 (estimated)
Total: $108,600

Strictly Cash:
5% Deposit:$20,000

The rest of the 75% of purchase price can be covered by bank loan. However do note this calculation assumes you are buying at the valuation price. However in today's market, it is very normal for sellers to sell their flat at a price above valuation which will attracts COV. (Difference between purchase price and valuation price) COV have to be paid in full cash at the point of purchase completion as loans and CPF usage can only cover up to the valuation price not the purchase price. I am well specialised in HDB transactions. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More