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Hi,

I always prepare a cost breakdown for all my client to allow them to consider how they wanted to finance their home.
This is to ensure that you do not over-stretch yourself in a long term commitment.

Hereby breakdown of the amount required for HDB between 250k~330k with the assumption of getting sufficient HDB loan as this will greatly reduce the amount of cash needed.

Cash required for resale purchase:

(1) OTP deposit & exercise = $5k
(2) Resale application = $80
(3) For transfer or mortgage = $38.30
(4) Valuation = $120
(5) Miscellaneous = $15
(6) Caveat = $139.30
(7) Fire insurance = $4.50 (3-rm), $5.50 (4-rm)
(8) Salesperson commission (1%+GST) = $2,675 ($250k), $3,351 ($330k)

CPF:
(1) 10% downpayment = $25k ($250k), $33k ($330k)
(2) Buyer stamp duty = $2,100 ($250k), $4,500 ($330k)
(3) Legal fee = $1.050 ($250k), $1,219 ($330k) (this amount is assuming at 90% loan)
(5) HPS = $196 ($225k), $259 ($297k) dependent on loan amt.

The above is based on the assumption you are taking HDB loan. Bank loan shall be some difference due to maximum loan from bank is only 80$.

Hope the above answer to your main concerns, but if there are more queries, do not hesitate and 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 Read More