Good day to you,
Based on the information you have shared, you may only consider a condo of up to $500,000 due to the limited Cash available for all the Stamp Duties payable within 14 days of exercising S&P.
If you can boost your cash to $120,000, you may then fully capitalise on your CPF OA of $140,000 and consider property value of up to $930,000.
One of the cheapest 2BR New Condo in the East District 18 at The Santorini, Tampines Street 86 is starting from $756,000.
Here’s the Cash Flow summary for $760,000 condo for your reference:
Cash 5%: $38,000
15% Cash/CPF: $114,000
BSD: $17,400
ABSD 5%: $38,000
Lawyer’s Fee: $2,500
TOTAL INITIAL CASH/CPF: $209,900 (*Minimum in Cash: $93,400)
Based on Max. 80% LTV and Average Interest Rate 1.5% for 30 years:
Loan Amount: $608,000
Estimated Monthly Mortgage Payment for Uncompleted Condo: $263 (First 6mths) to $2,100 (Upon Completion)
*Minimum Salary required to qualify for this loan amount: $4,600
For more information including floor plan, please visit:
http://www.propertyguru.com.sg/listing/18089436/for-sale-the-santoriniPlease approach your bank to get Approval in Principle for your loan, feel free to contact me should you require recommendation. While waiting for the loan approval, you may contact me to arrange for viewing and narrow down your preferred units.
Thank you and have a pleasant week ahead.
Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 822 50 212
Email: karrien.realty@yahoo.com
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