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Hi Mr. Thng,

Do you mean monthly income is 4.25k/month? If so, you will be eligible for 1st timer and AHG grants, which will add up to 25k since there's only 1 SC in the application. Supporting documents will be income slips and employment letter etc. Will be able to assist with the necessary paperwork.

Most 1st timers take up a hdb loan of 90%, and max tenure is 25 years. The downpayment of 10%+stamp duties of approx 3% can use CPF if sufficient, otherwise its cash.

Typical breakdown as follows:
CPF 10%
Hdb loan 90%
Stamp duties+conveyancing 3% approx
Option fee 5k
Agency fee 1%+GST
Hdb admin fees 300
COV if any.

For detailed financial breakdown, will be glad to share more when we meet up and understand your requirements further. It will be ideal to engage a buyer agent so you can have a hassle free transaction. Thanks and hope to discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
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Good afternoon Kai Jin,

I think you meant your combined monthly income is $4250.

1) family grant $20k and additional housing grant

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/first-timers-applicants-scheme

If you choose to stay near your parents, you can entitled to further $20k proximity grant.

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/living-with-near-parents-or-married-child

2) You might want to apply for HLE to find out how much HDB housing loan can you obtain.

The max loan tenure is 25 years and quantum is 90% (still subject to mortgage servicing ratio).

http://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/eligibility-conditions

3) Initial outlay:

- 10% downpayment (CPF or cash)
- estimated 3% buyer's stamp duty (CPF or cash)
- $5k option deposit (cash)
- legal fees (CPF or cash)
- $200 valuation fee (cash)
- $80 resale application fee (cash)
- 1% agent commission (cash)

Hope my explanation helps!

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

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Evening,

With HDB loan, you can get max of 25 years old and grant of $20k. You can claim fir the Top-up grant of $10k once your spouse becomes SC. You will also be required to prepare 10% down payment, with HDB loan. You can utilize the grant and CPF monies to pay for this component.
As to how much loan you are eligible for, it would depend on both your credit status, income type and the age of the unit that both of you are looking into.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More