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Hi there, we are a second timer couple with combined cpf of $335K. We wish to use our cpf monies 100% to purchase a resale hdb flat for $370K. What are the additional cash amounts we have to fork out if we opt for a bank loan aside from the 5%cash downpayment to the bank? Also if we opt for a 2nd HDB concessionary loan, does this mean we have to pay the balance $35K entirely with our previous cash proceeds? Thank you.
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4 Answers

Hi,

Other cash components include COV (if any), agent commission of 1%+GST and hdb conveyancing and admin fees. If you opt for 2nd hdb loan, 1/2 of your cash proceeds from your previous hdb sale will be used for this purchase.

May I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Ivan Ng ERA ASAP
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Hi Sir/Mdm,

If you opt for a bank loan, then besides the 5% cash, these are the amount that you will need to pay:

1. HDB Admin Fee: $80
2. Cash Above Valuation (COV) if any
3. Cost of Valuation Report: $200
4. Agent Commission: 1% of purchase price + GST

If you opt for a HDB loan, then 50% of your previous sales proceed in cash will need to be directed into this purchase. The minimum loan amount is usually $100,000.

Please feel free to contact me if you have further questions!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
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Testimonial from Satisfied Clients (2015/2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

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We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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YT Tan (陈永达)
Good afternoon buyers,

Do take note that if you decide to take up HDB loan for this purchase, you need to utilise 50% of the sales proceeds from the sale of the subsidised flat and all your CPF OA funds.

If you are going for bank loan, the minimum loan amount is $100k if I am not wrong.

Other cash outlay will be:

1) $80 resale application
2) $200 valuation fee
3) 1% agent commission (with 7% GST)
4) pro rated property tax etc

Hope my explanation helps!

How can I value add further in your property purchase?

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Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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GAN ENG JOO ONASSIS
Hi,

50% of cash proceed is a must to pay for the next HDB purchase under HDB policy. Then the balance you can use your CPF to clear the balance amount.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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