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Hi
The grants you are eligible for as a singles purchasing a resale is singles grant, EHG grant and PHG grant (Living with/within 4 KM from your parents). For Singles grant, the amount eligible for 4 room and below is $25k, EHG based on your pay is $15k and PHG live with parents is $15K and near parents is $10k. Assuming you purchased a flat 4 room and smaller, total grant would be $25k+$15k+$10k =$50k. With $190,400 HLE max and $130,000 OA savings, you can afford to finance the house using non cash component (CPF, grant and loan) of $190,400+$50,000+$130,000= $370,400. For a flat that cost $390,000 after adding stamp duty and legal fee, the total amount would add up to $397,300. To answer your question, the amount of cash you need to top up is around $30k. Do note that this is assuming the house have no COV. I have experienced serving various buyers some of them singles like yourself. A vast majority of them managed to purchase a house without incurring any COV except for normal deposit (capped at $5k for HDB) paid to directly seller to secure the flat. In fact, for some of them, I managed to negotiate with seller to accept a cash deposit of less than $5k. For a first timer buyer, there are lots of things that I wish to share from my experience but could not explain in details in this platform due to space constraints. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Mohammad Taufik Bin Hussein
CEA Reg No: R061607B
Contact No: 93375051  Read More

Hi,

1) Your funds available now is $190.4k+$130k = $320.4k
2) I'm assume you are buying under the Single Citizen Scheme:
(a) Single Citizen grant = $25k
(b) EHG = $15k
(c) Proximity grant = $10k

3) Your total funds with grants = $320.4 + $50k = $370.4k
4) Thus if purchasing a unit at $390k you will need $19.6k cash.
5) Your buyer stamp duty for $390k = $6,300
6) Your legal fees is ~$1.5k
7) Total cash for down payment + stamp duty = $27,400
8) Your monthly mortgage is $864.

Hope the above answer 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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