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Good morning Mandy,

How much cash do you need to fork out will depends on the finances you have on hand,loan eligible based on your combined income and which type of loan you are taking.

If you take HDB loan (90%), 10% downpayment is payable by CPF OA funds in full as for bank loan (80%), you will have to fork out 5% cash and 15% CPF/ cash.

Other costs will be buyer's stamp duty (estimated 3%), $200 valuation fee, $80 resale submission fee, legal fees (be it first or second timer), agent commission (1% of purchase price plus gst) etc.

If you are staying near to either parents, you are eligible for proximity grant up to $20k if both of you are Singaporean.

Hope my explanation helps!

If you need any assistance in your property purchase, feel free to contact me.

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

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Good morning Mandy,

Firstly, I would need to know if you are taking bank loan or HDB loan. The down payment percentage and requirements are not the same.
Secondly, depending on your income status, age and the balance lease of the unit that you are buying, your approved mortgage sum will differ. The amount of CPF that you can use will also be impacted. This will result in the total amount of cash required to go higher.
Lastly, legal fee for HDB loan is lower compared to bank loan.

Do also remember that you will need cash for Option and Exercise Fee, valuation report, property tax refund, insurance, agent commission, etc.

Feel free to contact me for further discussion.

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

gd morning Mandy. It would best to enagage a professional agent to assist you through the entire process. Is your hle/ipa ready?

Lets meet up for a thorough discussion on the process and requirements. I am reachable via 91442664  .
Tricia Tan 91442664  Read More