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I'm a SPR and I have around S$12000 in my CPF account. I wish to buy 3+1 HDB at Yishun or Woodlands. I wish to understand what are all the source from where i can get loans to face the initial payment 20%, Hand cash and 80% downpayment.
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1 Answer

Ally Chin
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Hi Selvamani

Thanks your question.

For SPR holders you are only eligible to get a loan from bank.

The maximum loan a bank could grant you would be 80% from the valuation price of the property you purchased, Cash Above Valuation (COV) is excluding in this case. The remaining 20% of money, 15% of which can be deducted from CPF or Cash, and balance 5% has to be in Cash.

Besides this you will need to pay for Stamp Duty, Lawyer Fee and other charges as well.

Please note that a single SPR is not eligible to buy a HDB flat in Singapore.

Please feel free to call me should you require additional information k. =)

Regards
Ally Chin
Propnex Realty P/L
Mobile 811 222 13 Read More
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