AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi im an SPR planning to buy a condo. I understand the 5% cash component for down payment needs to b paid for my savings. If I don't have much I savings in CPF, can the ABSD b paid from a personal loan?
0 •
592 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

5 Answers

Aaron Chong
Replied
Hi, yes you could pay the ABSD from personal loan but usually the amount you could loan is only up to 4 times your salary. So you may like to take note of it. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
0
Upvote Upvoted
YT Tan (陈永达)
Replied
Good morning buyer!

Do take note that ABSD must be paid by cash and not by CPF OA funds.

You can go ahead and take a personal loan to cover your initial outlay but it might affect your loan quantum.

If you need any assistance in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
0
Upvote Upvoted
Alfred Chee 徐仲宏
Replied
Hi,

I am dealing with a customer who has the same concern as you to pay for ABSD.

Please contact me at my mobile @ 96428496  .

My pleasure to advise and assist you!

Thanks and hope to hear from you soon!

Warmest regards,
Alfred
DTZ
 96428496  Read More
0
Upvote Upvoted
Ivan Ng
Replied
Hi,

yes you can take up a personal loan up to 4 times of your monthly salary, and monies obtained can be used to pay ABSD. however this might affect your maximum loan attainable for your property purchase.

may I know which project caught your eye? will be glad to share with you the star buys available. thanks and hope to speak to you soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More
0
Upvote Upvoted
Mike Lim
Replied
Afternoon,

All required cash component: ABSD and down payment, can be obtained from bank under personal loan. However, this would impact your MSR and TDSR, which will in turn impact your mortgage loan amount.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions