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Evening Ms Wendy,

For SPR to purchase resale HDB unit, they must both be holding onto SPR status for more than 3 years before they are eligible. If you are looking at getting a unit soon, you can look at private property. Your fiance do not need to sell off his overseas property and yet still eligible to get max of 80% loan.

Do feel free to contact me for further discussion.

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

Good evening WL,

Both of you will only be eligible to purchase private property as you need to obtain SPR status first and fulfill it for 3 years to be eligible to purchase HDB.

And by purchasing private property, your fiancé will not have to dispose off his interest in overseas property as well.

But do take note that as you are currently considered a foreigner (cause haven't obtain SPR status) as of now and if you purchase a private property with your fiancé, you will be subject to 15% additional buyer's stamp duty.

If possible, do share more information so I can further advise you.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi Wendy,
If you are considering to purchase HDB unit, then both of you must fulfil at least 3 years of SPR status before you are eligible. Should you consider getting a private property, you may not need to sell off your overseas property too. However do note that the additional buyer stamp duty rates is different for SPR and foreigner.

You may contact me for further discussion. Thanks

Kelvin Chen
 84282282 
kelvinchen.era@gmail.com
ERA Realty Network Pte Ltd Read More

Good day Ms. Wendy Lim,

As explained by fellow agents earlier, it would be wiser for you and your fiancé to look at just private property for many good reasons. To add on, other compelling reasons to go for private properties are as follows:
1. Less restriction on ownership eligibility, only one name is required hence couple can buy 1 property each
2. As whole unit could be rented out immediately for rental income unlike HDB, couples who have 1 property each could stay together in 1 and rent out the other for extra income
3. Many mass market private condominiums rental income could cover the relatively low interest monthly mortgage payment, essentially the tenants are helping owners pay for the properties

I am one of the appointed marketing agent for The Santorini at Tampines Street 86 (Est. TOP: July 2018) which has one of the most affordable 1BR and 2BR condos in the market. We still have 1BR 527sf starting from $579,150 and 2BR 732sf from $756,000. Please refer to my listings for floor plan and more info: http://www.propertyguru.com.sg/agent/karrien-n-chan-295771/karrien-n-chan

Here’s a summary of the funding required to invest in the 2BR $756,000 Uncompleted Condo based on the following criteria:
1. Below 35 years old to qualify for maximum 30 years loan tenure, the max. loan tenure will decrease as we age and increase the monthly mortgage payment.
2. Average annual interest rate 1.5%, banks are offering 1.2% onwards
3. No other residential mortgage loan hence qualify for 80% LTV

5% Cash Booking Fee: $37,800
15% Cash/CPF: $113,400
BSD: $17,280
5% ABSD for SPR 1st Property: $37,800
TOTAL Cash/CPF: $206,280

80% LTV: 604,800 (To qualify for this amount requires est. minimum $4,600 Monthly Fixed Salary)
Monthly Mortgage payment starting from: $261 (First 6 mths) to $2,088 (Upon Completion)

Please feel free to contact me should you require further assistance. I would be able to meet with you at any time to your convenience from 11am to 7pm daily at The Santorini showroom to explain the potential of this project and go through with you in more details about financing.

Thank you and have a pleasant day.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 822 50 212
Email: karrien.realty@yahoo.com

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