Hi Nur,
I am assuming that you are looking into taking HDB loan, there are several factors to consider:
1) As you have mentioned, your CPF funds available is around $20k range, do note that you are only eligible to take up to 85% loan of the purchase price or valuation (whichever is lower). 15% of the above amount needs to be funded through CPF and cash component.
2) Stamp duty is applicable at 3% - $5,400 of the purchase price, which can be funded by CPF or cash plus legal fees which should be under $500.
3) For loan matters, both your age and income will be assessed and a final loan amount will be worked out. It is important to go through the Home Loan Eligibility first before embarking on search for property.
4) Agent fees to help you purchase a flat is at 1% of the final purchase price (GST inclusive if appointed agent is from a GST registered company).
Hope the above helps!
Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main]
+65 6471 8888
[mob]
+65 81577565
[LDA]
+65 92787772
www.geryllim.com
My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0
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