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Hi, wanted to know if I will need to fork out 20% down payment (5% cash and 15%cpf) if I were to buy a condo that's newly launched. Or is the 20% down payment only for resale private property? Also, mind letting me know what's progressive payment? Is it for the 20% down payment or is it for the loan that's taken from the bank? Thx
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1 Answer

Ivan Ng
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Hi,

Yes for new launch condos, the downpayment is also 20% (5% cash 15% CPF), provided you can take 80% max loan.

Progressive payment refers to monthly mortgage repayments to the bank, that build up progressively as condo constructs. Thanks and which new launch are you keen on? Will be glad to make recommendations according to your requirements. Thanks and hope to discuss further.

Warm Regards,
Ivan Ng
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Email: Ivanng10@gmail.com
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