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Morning,

You will first need to do an approval in principle (AIP) with banks to see how much loan can you take. No point go house hunting for houses that you cant afford if banks are unable to support you with any loan to the unit's asking.

Then you have to remember that you can only eligible to take up to 80% loan if you don't have any existing housing loan and your loan tenure does not exceeds retirement age of 65 years old.

20% downpayment (5% cash and 15% CPF) will be $58,000 cash and $50,000 CPF (shortfall in CPF will be in cash).

Other main costs will be: valuation report - $180.50; HDB resale submission - $80; legal fees - $2,500 +/-; buyer's stamp duty - $10,800; agent's fees (1% of purchase price plus GST) - $5,778; mortgage's stamp duty - $500 and other possible small costs.

Total cash you need inclusive of COV will be close to $120,000.

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

Hope it helps!

Happy 2013!

Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
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