As a Singapore Permanent Resident (SPR), the downpayment required to buy a resale HDB flat will depend on various factors such as the loan amount, the loan tenure, and your age. Here's a general guideline for the downpayment:
Loan amount: The maximum loan you can get for a resale HDB flat is 75% of the purchase price or valuation, whichever is lower.
Downpayment: The downpayment for the remaining 25% of the purchase price will have to be made using your own cash and/or CPF savings.
Valuation: If the resale flat's valuation is lower than the purchase price, you may need to top up the difference in cash.
Using your budget of $460,000 as an example, assuming that the resale flat's valuation matches the purchase price, the downpayment required for a 75% loan would be approximately:
Purchase Price: $460,000
Loan Amount: $345,000 (75% of $460,000)
Downpayment: $115,000 (25% of $460,000)
However, it's important to note that this is just an estimate and the actual downpayment may vary based on other factors such as your age and the loan tenure.
This is just guide and a lot depends on other information and factors such as CPF, agent fees, legal fees, etc.
If you have any other queries, do get in touch.
Wimal W Amarasuriya
PropNex Pte Ltd.
CEA: R067600G
Mobile:
+6593826862
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