Asked by Srie Wirdawati
Hi, I'm a 30 y/o Singaporean, married to a foreigner (holding an EP). I am a first tme buyer and would like to buy a condo in a year time because currently we are hoping to save for another year for deposit on a condo. We are looking at a budget of 700k to 750k (At least a 2BR near Paya Lebar MRT). I am unsure what is required from us finance and eligibality wise. My questions are:
1)Say I found a unit that I like and have to make a deposit. How many percent deposit do I have to make? How much has to be in cash and how much can I use from my CPF? Is it true that I have to pay 5% of the unit's price in cash and the balance of the deposit I can use from my CPF?
2)What is the difference betwen EC and private condo for finance wise (bearing in mind that I'm a Singaporean and my husband is a foreigner)? What are the requirements for us as a first time buyer and do we get any gov benefit if we were to buy an EC? Do we get to use the foreign-spouse scheme and if so, how much?
Thank you.
1)Say I found a unit that I like and have to make a deposit. How many percent deposit do I have to make? How much has to be in cash and how much can I use from my CPF? Is it true that I have to pay 5% of the unit's price in cash and the balance of the deposit I can use from my CPF?
2)What is the difference betwen EC and private condo for finance wise (bearing in mind that I'm a Singaporean and my husband is a foreigner)? What are the requirements for us as a first time buyer and do we get any gov benefit if we were to buy an EC? Do we get to use the foreign-spouse scheme and if so, how much?
Thank you.
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