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Hi,

Probably you could consider taking personal loan since your monthly salary is high. This would generate some funds for the downpayment. Or I could get my banker to get in touch so we can explore our options. Thanks and let's discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Good afternoon buyer,

Usually buyers who dont have sufficient finances to finance the initial outlay might turn to take up personal loan. This might not be the best option as the interest rate is usually slightly higher but it is one of the alternatives you can consider.

If not, you might want to seek short term financing from your family members, relatives or friends to cover the initial outlay.

Do take note that as a SPR purchaser, you will be subject to 5% additional buyer's stamp duty thus your initial outlay will be as such:

1) 5% cash and 15% CPF or cash downpayment
2) estimated 3% buyer's stamp duty
3) 5% ABSD
4) $2.5k legal fees
5) valuation fee

Hope my explanation helps!

If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!

Have a great and enjoyable holidays ahead!

Warmest Regards,
YT Tan
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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(W): www.yttan.com Read More

Afternoon,

Based on the purchase price of $2mil, the down payment will be around $400k and loan amount will be at $1.6mil. Based on MSR, you will not be likely to obtain so much loan, even with 40 years loan. It would be prudent to understand your actual financial capability before leaping into the purchase.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

My friend here, my advise for you is to obtain SC first then buy to avoid the 5% ABSD. With your S$15k income, getting SC is as easy as chicken feet. Don't go and think about investment now. This is what I would do. Read More

Hi,

Re: Our Preferred Experienced SG Professional

Professional recommendation is not to overstretch your financial to get an personal loan to buy an property. Just based on the 20% deposit cash or cpf to adjust the buying pricing of the property.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

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