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Hi,

$750k will be a more ideal range. The breakdown illustration as follows:

5% cash 37.5k
20% cpf OA 150k
8% approx ABSD+BSD+ legal fees 57.1k (can use CPF OA if sufficient)
75% max loan 562.5k

Mainly due to the down payment and stamp duties requirements, and constrained by the cash and CPF OA available (240k) as mentioned.

Getting a 562.5k loan should not be an issue if you do not have other loan installments and can take a 20 year loan subject to bank loan approval.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you. Read More

Hi,

1) I'm using the assumption of 40 yrs old with a salary of $8k to do a preliminary TDSR assessment.
2) You can get a loan of $870k with the assumption of (1).
3) The breakdown of the cost of $890k would be as follow:
(a) Down payment:
5% cash = $44.5k
20% CPF and/or cash = $178k

(b) Loan:
75% = $667.5k

(c) Stamp duty:
Buyer stamp duty ~3% = $21.3k
ABSD 5% = $44.5k
Mortgage Stamp duty = $500

(d) Legal fees = $2.5k

4) The total cost to purchase an $890k is $291.3k. With your current budget, you are still short of $51.3k.
5) I would suggest you consider adjusting your budget to a lower price condo around $740k~$760k.

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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Hi there,

Thanks for your query.
Any advise given to you on this platform can only be brief and vague based on rough figures. What would be more helpful in helping you plan would be exact financial computations with timeline to understand the dynamics of purchase and your options available aligned with your finances and preferences. Abide and beyond, understanding the sales caveats and historic sales report would also aid your understanding. My esteemed colleagues would have already given you the rough breakdown. If you would like a more detailed discussion with comprehensive information that will certainly value add your portfolio, do connect with me via WhatsApp or zoom.
Furthermore there is no agent fees for private property purchase. Hence, best to tap on the expertise of a seasoned professional to reap a profitable deal and all hidden information at no cost at all! Thank you.

Do visit my website for my recent accolades, awards and testimonials @ http://www.kumarrai.myweb.sg

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7/8/9/2020

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Hi,

If you're looking to purchase a $890k property, you will need to prepare approximately 33% of the purchase price (25% downpayment plus BSD plus ABSD) which works out to be around $290k.

Based on your current funds of $240k, you're still short of about $50k.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More