AskGuru Q&A Community

Hi,

Is she employed at the moment and getting income? If so, she will be able to take up a mortgage loan. How much she can loan will depend the relevant cash & CPF outlay to prepare, if she is using her sole name to purchase the private property. Thanks and hope to have more details before making better recommendations.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Good afternoon investor,

If your wife is a Singaporean and has no outstanding loan in the first property, she needs at least 30% of the purchase price as the initial outlay.

1) 5% cash downpayment
2) 15% CPF OA funds or cash downpayment
3) estimated 3% buyer's stamp duty
4) 7% additional buyer's stamp duty
5) $2500 legal fees
6) $500 stamp duty for mortgage
7) valuation fee etc

Do take note that if she has utilised CPF OA funds in first property, she has to set aside half of CPF minimum sum ($80.5k) in her CPF OA + SA first before she can use the excess in this investment purchase.

Hope my explanation helps!

But probably you can share more so I will be in a better position to assist and advise further.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Evening,

Your spouse need to be employed or have enough CPF and/or cash to proceed with the purchase. Based on her age, income and credit status, bank can disperse maximum of 80% loan on the purchase. Downpayment of 5% have to be made in cash while the balance 15% can be done using CPF. If your wife is not a citizen, ABSD will be payable.

Do contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,
You are right, your wife can purchase her 1st property without any ABSD. For investment, 2 bedroom unit will be good. The price from 700K to 1 million depends on the location. The cost will be
- 5% cash
- 15% CPF (if she is eligible for 80% loan)
- 3% stamp duty & legal fee

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi,

Re: Our Preferred Experienced SG Realtor

Simple, you just need your wife to inquiry with the pool of experienced bankers I can recommend. Available choices and budget will have a clear choices.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.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.

Onassis Gan | R021244C | CES Certified SG Realtor l SGRealtor.com
EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Featured Realtor Services recognition by SGReview.com and SGBride.com

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com
Skype: incomecare

Our Clients' Success Is Our Success
“Clients’ always at ease putting their properties with us”

Our SG Realtor Services Youtube
Residential- https://www.youtube.com/watch?v=3kI2tBtopuM
Commercial- https://www.youtube.com/watch?v=ELAXddJ6nEk

Daring to invest on SG branding portals give us an edge advantages in reaching out to consumers'.

Upcoming 2016, we are in the progress to create property portals to serve our SG clients better.

www.Listing.sg – SG Properties Listings
www.CommercialSingapore.com – Commercial Listings
www.SGHouses.com – Residential Listings
www.Showsuite.com – SG Developer Projects Listings

SG Commercial Websites
www.SGCBD.com
www.CBDSingapore.com
www.SingaporeCBD.com
www.SgOfficeRental.com
www.SgShophouse.com

SG Landed Houses Websites – www.LandedGroup.com
www.SGGCB.com
www.SGBungalow.com
www.SGDetached.com
www.SGSemiD.com
www.SGTerrace.com
www.SGCluster.com

SG Districts Websites
www.BukitTimah.com.sg
www.Holland.com.sg
www.MarineParade.com.sg
www.sentosaisland.com.sg

Overseas Website
www.NewLaunch.my - Malaysia
www.PropertyPh.com - Philippines
www.VNProperty.com - Vietnam Read More

Hi Sir,

Good news for you!! Your wife will be able to be eligible for up to 80% of loan and she is also not liable for Additional Buyer Stamp Duties if she is a Singaporean.

For finances, you will need to take into consideration the following:

Cash
a. 5% of Valuation

CPF
a. 15% of valuation
b. Legal Fees of $2500 to $3000
c. Normal Stamp Duty – approx. 3% of purchase price

Please feel free to contact me at 9644 4854  or email me at nicktan@propertyavenue.com.sg for a full financial plan.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial for Satisfied Clients (2015)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“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 of HDB)

“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.”
Susana (Buyer of HDB)

“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 through Nick) Read More

Good afternoon buyer,

If she is a Singaporean purchasing first residential property, she will not be subject to additional buyer's stamp duty.

If she is SPR, she will be subject to 5% ABSD.

Hope my explanation helps!

If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More