Hi,
1) Flat price = $350k. Option and exercise fee must be in cash; $2~$5,000. Miscellaneous such as caveat, resale application ($120) & valuation ($80), fire insurance, etc, it is best you prepare about $1,000 for all these.
(a) HDB loan:
Min 15% down payment = $52.5k (CPF and/or cash)
Buyer stamp duty = $5.1k (CPF and/or cash). Prepare cash to pay and apply for reimbursement.
Legal fee (HDB) = ~$1.2k (CPF and/or cash)
Mortgage stamp duty = $500 (CPF and/or cash)
(b) Bank loan:
Min 25% down payment = $87.5k; 5% must be in cash = $17.5k, 20% of $87.5k can be in CPF and/or cash.
Buyer stamp duty same as above
Legal fee (Private) = ~$2.5k inclusive of mortgage stamp duty
2) It is the owner's age that will affect the CPF utilization, not the occupier. So you must be at a minimum of 30 yrs old and above in order to fully utilize your CPF funds to service the mortgage.
Hope the above answer your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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