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Hi! My fiancee (age 27) and I (age 31) are getting married soon and we are planning to buy a resale flat for our home.

Our details are below:
- Joint Monthly income: 8.7K
- Combined OA in CPF: 75K

1) How much subsidy can we get for the purchase? We are also looking at staying somewhere near our parents.

2) While we are not so worried about paying the monthly installments for the loan (correct me if I am wrong and I should worry about it), we are more concerned about much cash we need to fork out for the deposit. This is because we also need to set aside cash for the wedding.

Can you advise on an estimated cash outlet for cover for the downpayment, etc? ( I know COV may vary so we can exclude that in the calculations for nw).
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7 Answers

Tricia Tan
Replied
Hi.
For first timer, you are entitled to family grant of 30k. (Both are SC) or $20K grant ( 1 SC & 1PR)
I can do a detailed financial breakdown for you. Would love to assist both of you in getting your first home.
Do feel free to reach me via 91442664  for a detailed discussion.
Look forward to hear from you.
Tricia Tan 91442664 
www.triciatan.myweb.sg Read More
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Mike Lim
Replied
Morning,

If both of you are SC and getting HDB loan, staying near parents grant will be $40k. You will be able to utilize your CPF for the 10% down payment if you are taking HDB loan. Hence the capital outlay will be more dependent on your purchase price and how much loan you can get.

Do contact me so that we can discussion in greater details.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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CK Ang
Replied
Hi,
Congrats. I believed both of you are SG citizen.
1. if stay near parent within 2km or same town, you can get up to 40K CPF housing grant
2. base on the combined income, I am sure you don't have to worry on the monthly instalment.

For me to assist and advise you more accurately, please drop me an email for me to gather more details information. Example, the area, the type of hdb ...
I will compute a cost breakdown base on the indicative price of the hdb type around the specify area.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Ivan Ng
Replied
Hi,

If you are both SC, 1st timer grant will be 30K. If you are staying within 2km of your family or at the same town, its another 10K, bringing up your total grants to 40K.

The cash outlay depends on the purchase price and how much loan you can get. May I have more details on what kind of location you are looking at so to gauge a reasonable purchase price? Thanks and hope to value-add to your housing plans.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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D. Kumar
Replied
Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to very comprehensively chart out your financial calculations flow and for us to explore the available options and alternative.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
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2014 August ERA Top Achievers
2014 September ERA Top Achievers Read More
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YT Tan (陈永达)
Replied
Good morning buyer,

Do take note that you will have to pay buyer's stamp duty as well.

Initial outlay for a HBD purchase with a bank loan:

1) 5% cash downpayment
2) 15% CPF/ cash downpayment
3) estimated 3% buyer's stamp duty (BSD)
4) $3k legal fees
5) $200 valuation fee
6) stamp duty for mortgage
7) agent's commission (1% of purchase price)

If you have excess after deducting BSD, you can use it to reduce on your mortgage.

Hope my explanation helps!

If you need any assistance or advice in your property purchase, feel free to contact me. I can draft you an financial plan and forward you a flowchart of a typical resale HDB Purchase if you are keen.

Hear from you soon!

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
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GAN ENG JOO ONASSIS
Replied
Hi,

Feel free to call me at 92222389  for your real estate needs- Resales Property

SG Resales Email: sale@resales.sg

Rest assured, I will walk you through the entire process.

Onassis Gan 颜荣裕 | R021244C | Associate Deputy Group Director
ACTA (Full); PDCE (Singapore); Msc BIT(Middlesex); BBA (South Australia)
Singapore Tel No (+65)92222389 
Malaysia Tel No (+60) 111 078 8889
Email/ 电子信址: sale@resales.sg
Skype: incomecare

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