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Hi, I would like to purchase a new launch condo in D19. Lets say the condo pricing I am looking at is at $580,000. And I had around 72k in my CPF (OA-57K, funds in Retirement account eligible to offset for property is at 15k) to offset it. How much cash do I need to pay in total and what are the procedures and any more charges (e.g. stamp duty/ lawyers fees/ GST). I owned a HDB and the HDB had been fully paid off a decade back. Currently I am 58 years, still employed. Will the bank still loan me the 80%?
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2 Answers

YT Tan (陈永达)
Replied
Morning EG,

Why not let me introduce some bankers to advise you on the eligibility of obtaining a 80% bank loan?

Possible cash outlay
1) 5% deposit in cash - $29,000
2) Buyer's stamp duty [(3% stamp duty x purchase price) -$5,400] -> $12,000 (provided you are singaporean)
-- cash first then reimbursed by CPF--
3) legal fees -> $2500 - 2800 (can be subsidised by bank)
4) stamp duty for mortgage -> capped at $500

Hope I answered your query.

Looking forward to hear from you so I can assist you with your bank loan application.

Warmest Regards,
YT TAN
ECG Property Pte Ltd
Mobile: (+65) 9111 5171 
Email: yt.lovelyhomes@gmail.com
Website: www.yttan.com/ Read More
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Nicolas Soh
Replied
Hi EG

Glad that you posted this

My company has always been focused in New Condo Launch & we have the right bankers to explain everything

We will be having a new launch condo in D19 soon and if you are worreid about the loan
I can get my bankers to give you an IPA (In Principal Approval) before deciding on your purchase for the condo

Pleaese do not hesitate to call me for details

Nicolas Soh
 92700370 
Senior Marketing Director
www.propertyinsider.com.sg Read More
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