Hi Pauline,
Based on a $650k HDB flat purchase, the breakdown is as follows:
5% downpayment $32,500 in CASH
20% downpayment $130,000 (CASH/CPF)
75% loan $487,500 (shortfall on loan, to top up in CASH/CPF)
BSD $14,100 (CASH/CPF)
From the above breakdown, if you have sufficient CPF to pay for the above, and you qualify for the loan of up to $487,500, then the maximum cash you will need to set aside is $32,500.
Take note that this figure is exclusive of agent fees and other miscellaneous fees.
Also, please note that if any of the Buyer/essential occupier is a Singapore Citizen, there is no ABSD for all HDB flat purchases, regardless of how many properties you currently owned. If both parties are SPR, then ABSD rate will be 5%.
I am experienced and well-versed in HDB resale transactions. Please get in touch with me for a more in-depth discussion on your flat purchase.
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.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty
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