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Hi, I currently have about 50k in my cpf OA and 100k cash. If I would like to invest in a condo, potentially loan them out or sell them when built depending of the kind of condo.

Would I be able to afford the payments upfront and loan? This will be my first property.
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2 Answers

Hi,

For 1st property purchase for SC, breakdown as follows:

Cash 5%
CPF 15%
Max bank loan 80%
Stamp duty and legal fees approx 3%

For the loan attainable, it depends on your age, income and credit profile and any other debt obligations you have at the moment.

May I have more info and requirements about your plans so to make better recommendations? Perhaps there are some 1 bedder projects that are suitable. Thanks and look forward to value-add to your housing plans.

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 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews/
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Johnny Goh Mui Huat
Dear Sir/Mdm,

If you are a Singapore Citizen, you can afford a $500k private property, based on the initial investment of $50k CPF and $100k cash. There are a few new launches that you will be able to invest in based on your initial investment.

However, we still need to consider some other factor as such bank loan eligibility, your future housing plan etc.

May I suggest a short discussion over a cup of coffee at your convenience so that I can have a better understanding of your situation and intention? I will be able to give you a proposal once we have a clearer picture of your investment expectation.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com Read More
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