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Home Financing

Asked by Anonymous 27 Nov 2014

Hi, if i want to purchase an EC cost $900k, but i been offered $600K of bank loan. can you advise what is the cash upfront i have to come out with and how can i make up the shortfall?

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Ivan Ng · Answer 1 · 2014-11-28T10:06:47+08:00

Ivan Ng

Replied 28 Nov 2014

Hi,

Firstly you must have enough monies to pay the 20% downpayment within 8-9 weeks of booking unit, ie
5% cash 45K
15% cpf 135K
3% stamp duties n legal fees approx 27K

The balance 120K (900-600-180) depends on what payment scheme you take on. May I know how much cash+cpf are you preparing to come up with for this purchase? Thanks and hope to understanding more before value-adding further.

Warm regards,
Ivan ERA
97432395
Ivanng10@gmail.com
Www.ivanng10.com Read More

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GW

Gareth Wong

Replied 29 Nov 2014

Hi Ivan,$100K cash and $100K Cpf.So can i use my refund cpf after selling my HDB to fund for outstanding $120K if choose the deferred payment scheme?

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