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Good morning Yee Lin,

Great hearing from you!

Let's assume you can obtain 80% bank loan (still subject to total debt servicing ratio, your initial outlay will be as such:

1) 5% cash downpayment
2) 15% cash or CPF OA funds downpayment
3) estimated 3% buyer's stamp duty
4) $3k legal fees
5) valuation fee, stamp duty for mortgage etc.

You can utilise your CPF OA funds on 15% downpayment, stamp duties and even to reduce on the mortgage quantum.

Hope my explanation helps!

But is this your first property purchase?

Feel free to contact me if you need any assistance or advice in your property purchase.

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

Hi,

Is this your 1st property purchase? If so breakdown as follows:

Cash 5%
CPF 15%
Max bank loan 80%
Stamp duties & legal fees 3%

You can use your OA fully to pay for downpayment, if its your 1st property purchase. Thanks and hope to assist with your housing plans further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Afternoon Ms. Yee Lin,

If this is your first residential property, you will be eligible to utilize 100% of your OA if the unit you are buying have more than 60 years lease balance. However, do note that for the down payment, 5% must be made with cash before you can settle the rest with CPF.

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

Hi,

You can utilize 100% of your CPF OA FUNDS.
First Residential
For private property, the loan can only be obtained up to 80%. Cash portion will be 20%.

Initial cash outlay:
20% Cash:
15% CPF, 5% Cash
3% BSD
Legal fees and misc

The first step to move ahead is always getting the finances settled. I can link you up with my bankers who will assist you with the approved loan , at no cost. If you have your own preferred banker, that's fine too. Following that, I will conduct the financial cash computations and progressive payments with timeline to illustrate the options you could consider.

Perhaps you can share more on your objectives but most importantly the requirements ; any particular type/ location/ budget to conduct a comprehensive search and shortlist of appropriate units.

Furthermore, there is NO agent fees involved! So you can take this opportunity to discuss more on your preferences & for me to give an entire overview and share more insights to the market, chart out the market price analysis and recent sales transaction caveats, work out comprehensive financial cash projections and provide you with up to date information to the procedural steps and its associated wings- financial (loan) , legal matters etc.

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
2015 Feb/ April/May ERA Top Achievers
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