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Hi,

Assuming its your 1st property purchase, and without other loan obligations, the breakdown will be as follows:

5% cash
15% downpayment
80% max bank loan of purchase price (subj to bank assessment)
about 3% buyer stamp duty
5% additional buyer stamp duty

thus for a $500K property, you are looking at about 28% downpayment upfront, with a maximum 80% loan.

It is advisable to speak to your preferred bank regarding the maximum loan they will support. If needed, I will be glad to assist and recommend some efficient ones. Thanks and hope to hear from you soon!

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More

HI Mr Vivek,
Based on your age and income, and if you have no other financial commitment, you should be able to get an 80% loan (assuming its your first property purchase) for your property purchase of about $500k. However, it would be more advisable to speak and apply for an approval in principle from the bank. (I could assist you in this).
Meanwhile, do also take note ABSD. Do feel free to contact me for any queries. Thank yo.
Kelvin Chen, ERA
 8428 2282 
kelvinchen.era@gmail.com Read More

Hi Vivek,

If this is going to be your first property, your cash component required for the purchase will be minimum 5% and another 15% to be either from CPF/cash. This is provided you are able to secure up to 80% loan.

Considering a $500k purchase, this could probable be your breakdown:

5% - $25k
15% - $75k
3% Buyer Stamp Duty - $15k
5% Additional Buyer Stamp Duty - $25k

A total of $130k cash component upfront for the purchase. I have also not factored in the legal fees involved in the purchase as well as service fees for salesperson where applicable.

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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