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Hi, my girlfriend and I is PR and we intended to buy a resale HDB. I have few question about it, let assume the HDB value at 400K and COV is 20K.

how many % of 400K as a deposit? 10% or 20%? is it true if we take housing loan from HDB we need only put 10% deposit (5% cash and 5% CPF)? if we take bank loan it will be 20% ( 5% cash, 15% CPF)

how many % of the 400K as stamp duty and other fees? and which of these fees can be paid by CPF?

Thanks!
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2 Answers

Mike Lim
Replied
Morning Mr. Lew,

Only SC with combined income of less than $10k are eligible for HDB loan. For PR, you can opt for bank loan. Since this is your first property, you should be able to get 80% loan where 5% must be cash and 15% can be paid using CPF. 5% ABSD is payable on the purchase price hence the breakdown is stated below:

Cash payable including COV: $60k (5% Cash + 5% ABSD + COV)
CPF payable: ~$70k (15% CPF + Legal and Stamp Fee)

Do note that figure will change if you do not have enough CPF.

FYI
Mike Lim
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m52i@yahoo.com
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  • CL
    Replied
    Hi Mike, thanks for your detailed explanation.

    So HDB bank loan is only for Singapore Citizen? what if both combined income is 15K, are we eligible to purchase a resale HDB?

    what is the estimated amount for legal and stamp fee for a 400K flat?

    Thanks!
Sharique Tan
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