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Hi Property Guru, Me and my wife are Singapore PR (more than 3 year), we planned to buy hdb resale flat (2+1) at which cost valuation price around 280k-330k. our combined cpf(ordinary account) have 45k, combine salaries 4k and cash around 50k, are we able to buying HDB with cov zero or less than 5k, How much minimum cash that I needed to have? and which Bank ideal for me to apply. Thanks.
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4 Answers

YT Tan (陈永达)
Good morning! I will advise you to speak to my banker first so he/ she can advise you on your in principle approval to gauge how much loan you can obtain. If you can't loan up to 80% of max $330k, you will have to fork out more cash. Do take note that you will be subject to 5% ABSD as a SPR household. Cheers! If you need any assistance in your property purchase, feel free to contact me. YT Tan ECG Property 9111 5171  yt.lovelyhomes@gmail.com Read More
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Morning, With today's market, to get a unit at low or zero COV is possible, if you are particular about unit's location, level, facing and condition of the unit. However, you might have a issue getting the right amount of loan to support the purchase. After the deduction of legal and stamp fee, not forgetting the ABSD, you will still need around $260k worth of loan, based on purchase price of $330k. Therefore it would be good to have my banker to assist you work on your IPA and we can work on the details accordingly. DO feel free to contact me if you require further assistance. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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Hello Sir, The main tax requirements for your wife and yourself adds up to approximately 6.5% of the purchase includes the 5% Additional Buyer Stamp duty on purchase price, plus the initial Buyer Stamp Duty which will be approximately 1.5% based on your budget. Actual stamp duty amount can only be calculated when you finalize on the purchase price. You will also need to be able to fund 20% of the purchase price in cash and/or CPF. I can have a discussion with you to give you a better estimate on a reasonable budget and approach several bankers to find you a suitable plan. Let me know if you need my assistance. Ivan Sim OrangeTee 98456099  Read More
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Hi,

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