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Hi Jonathan,

You may wish to check with a banker to see how much mortgage loan you can attain currently based on your age, credit and income profile. For private property purchase, typical breakdown as follows:
Cash 5%
Cpf 15%
Bank loan 80%
Stamp duties & legal fees 3% approx

Typically no commission is payable for private property purchasers. Thanks and may I assist with your purchase plans further?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Afternoon,

As your are SC who is buying first property, ABSD is not payable. Legal and stamp fee are payable by CPF. Since you are self employed, you will need to provide your IRAS 8A for bank assessment. They will also need to understand your business financial flow before deciding on how much loan are they comfortable to provide you with.

Do contact me further for detail discussion.

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

Good afternoon Jonathan,

It will be best to let my banker/s to advise you on your in principle approval so you can gauge how much loan can you obtain.

If you are able to obtain 80% bank loan, your initial outlay will be as such:

1) 5% cash downpayment
2) 15% CPF or cash downpayment
3) $2.5k legal fees
4) estimated 3% buyer's stamp duty
5) $500 stamp duty for mortgage
6) other misc fees

You dont have to pay commission as a private property buyer as acting as your representative, I will take commission from seller's agent.

And not to worry that you wont be subject to ABSD as this is your first property purchase as a Singaporean.

Hope my explanation helps!

If you need any 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.tan@propertyavenue.com.sg
(W): www.yttan.com
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