For you to be able to purchase a private condo/apartment, you must be able to pay at least 28% of the cost price of the property.
a. 5% cash downpayment
b. 20% cash + CPF
c. 3% BSD + legal fees around 3k
I need more details to give you an exact figure as you have not mentioned your cash on hnad etc. So, do contact me privately so that I can adivse you accordingly.
Huttons Asia P. L.
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I would need more information from you before I can work out a more accurate figure.
Do you have any outstanding liabilities, like car loan, study loan, credit card loans etc? Also, how much cash do you have on hand for the downpayment?
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
PropNex Realty Read More
If you do have any outstanding debts such as car loans etc, you should be able to secure a loan of up to about 830k. Taking into consideration your CPD amount and the cash savings you have, you should be in a comfortable position to purchase a condo.
Please feel free to contact me so that I can gather more information from you and draw up a financial plan for you!
(M) +65 9644 4854
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
1) Your estimated loan is $760k by applying TDSR assessment.
2) Your available funds inclusive of your CPF for your purchase budget are ~$760k + $80k = $840k.
3) I'm afraid you can only consider a resale condo as in the current market, there is nothing that can fit your budget.
4) All loan from the bank maximum is 75% of Loan-To-Value (valuation value, not the selling price). Thus you have to prepare 5% cash, 20% cash, and/or CPF.
5) You also need to prepare for ~3% Buyer stamp duty and legal fees of $3k. Both can be paid using CPF is sufficient.
6) With your current CPF of $80k, if use this for 20%, meaning you can only consider keeping your budget around $400k.
7) I'm afraid you are not able to find any unit within $400k. Unless you have sufficient cash to top up the difference.
8) The current resale market for 1 bedroom unit is $550k and above.
9) The current new project market for 1 bedroom unit is $900k and above, and this type is usually sold off on the launch day.
10) Thus suggest you save a bit more before entering the property market.
Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
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1) Assuming that you don't have any car loans, credit loans, or credit cards, based on your Total Debt Servicing Ratio (TDSR) , you can take up a max loan up to 765K for 30 years tenure.
2) Your max purchase is approximately around $1,020,000
3) For the Downpayment, usually its 5% cash and 20% CPF, so cash portion u need to come up with $51,000, CPF is $204,000
4) For properties above 1 mill, you need to pay 4% - $15,400 Buyer Stamp Duty, which is another $25,400. (Assuming you are a Singaporean buying your 1st property)
5) Legal Fees are around $3000
6) If you wipe out your CPF OA which is $80,000, you need to come out with extra $204,000 in terms of cash to pay for downpayment, buyer stamp duty and legal fees.
7) For the current New Launches, there are condos starting from 830k to 850k onwards.
8) For Resale, it can be as low as 550k to 600k onwards for studio bedroom units
Feel free to contact me for a discussion where ill give you an in-depth understanding on what you can afford in this current market sentiments.
Propnex Realty Pte Ltd
Senior Associate Marketing Director Read More