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Asked by wy 8 Nov 2011

How much do i need to pay initially if i am looking at a $550,000 (exclude COV) resale 4-rm flat at clementi. ( how much cash upfront do i need to have if there isnt enough $ in CPF)

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Mike Lim · Answer 1 · 2011-11-09T10:44:30+08:00

Mike Lim

Replied 9 Nov 2011

Morning,

This would depends on whether you are taking bank loan or HDB loan.
For HDB loan, the inital is 10%, payable all by CPF.
For Bank loan, it would be dependent on whether it's 80% or 60% loan.
For 80% loan, you need to pay $27.5k and $55k for 60% loan, if you do not have any CPF at all.
Do note that this figure would exclude the legal and stamp fee, etc.

FYI
Mike Lim
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