Hello!
Good day to you!
I’m Daniel Tan from Huttons.
Assuming maximum loan of 80%, the initial upfront downpayment 20% can consist of 5% cash and 15%CPF/cash.
Other related fees/charges includes:
1. BSD (3% purchased price minus S$5,400) - CPF reimburse
2. ABSD (SPR 1st property 5% of purchased price) - CPF reimburse
3. Legal Fee (S$2,500 - S$3,500) - CPF reimburse
4. Misc fees ( Insurance / Valuation)
(CPF reimburse meaning pay in cash first, reimburse by CPF)
Depending on the purchase price, the initial cash upfront will differs.
For example:
1 bedroom condo purchase price S$650K
5% Cash = S$32.5K
15% CPF/Cash = S$97.5K
BSD = S$14.1K
ABSD = S$32.5K
Legal + Others = ~S$3K
Total Cash Upfront = S$125.6K (Cash) + S$54K (CPF)
Provided that you does no have other existing loans, you should have no problem meeting the TDSR target based on income of S$5.1K.
There are currently many exciting projects available in the market going at very attractive prices. Please feel free to contact me and allow me to assist you with your home search.
Hear from you soon.
Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.
Have a great day ahead.
Best Regards
Daniel Tan
Huttons Asia Pte Ltd
(+65) 94775100 daniel.tck@outlook.com
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