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hi my husband and i just paid off our hdb housing loan recently and keen to look for a condo for investment. we have about 200k cash on hand and keen to get a two bedrooms unit for investment. can we loan up to 80% ?and can we still using cpf to selves the housing loan? my hubby cpf account has exceed half of the minimum retirement sum but mine not yet. is the cash on hand enough to cover the down payments?
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3 Answers

YT Tan (陈永达)
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Good afternoon! Yes both of you can take up to 80% bank loan as you dont have any outstanding loan now. Your husband should be able to use the excess cpf oa funds to finance the purchase but not you as you had mentioned you did not fulfilled the minimum sum of $74k. With $200k cash on hand, you should be able to afford a $666k property taking 20% downpayment, estimated 3% buyer stamp duty and 7% additional buyer stamp duty if both of you are assumed to be SC. With this budget might be tough to get a 2 bedders property. But since you guys are buying it for investment, as long as the net rental yield is or will be healthy, both of you can consider. Why not let my banker to advise you guys on your in principle approval so you can gauge how much loan can you obtain based on TDSR and age then we work things out from there. Hope to hear from you soon. YT Tan ECG Property 9111 5171  Yt.lovelyhomes@gmail.com Read More
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CK Ang
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Hi, my suggestion is to seek one or two banker for financial advises. Base on your current financial status, they will calculate and advise you how much you can loan and the max cost of a house you can purchase. I have a few good bankers to recommend. I am reachable at my mobile. CK Ang 90463808  res.ckang@gmail.com Vestor Realty Read More
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Koh Zhen Hon
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Hi,

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