Hi,
You didn't mention your resident status, thus I have to provide both HDB and bank loan.
Note that the following is just an estimation:
1) Cost for $400k resale HDB:
There are 2 types of loans available; HDB (SC family only) or bank.
HDB loan: (2.6%)
Downpayment: 10% (CPF and/or grant) = $40k
Max. Loan-To-Value: 90% = $360k (household income ~ $5,500/mth), assuming able to take 25 loan tenure, assume you are at most 40 years old or less than. The loan amount will reduce if you are older, as this affects your loan tenure.
Buyer Stamp duty (~3%) = $6,600 (CPF if sufficient)
Legal fee (HDB): $797 (CPF if sufficient)
Mortgage stamp duty: $500 (CPF if sufficient)
Estimate Cash: $6k (including $5k option deposit + exercising fee, and miscellaneous)
Bank loan: (1.4x%)
Downpayment: 5% (cash) + 20% (CPF +/or CPF) = $20K + $80k
Max. Loan-To-Value: 75% (Household income ~ $4,600/mth, assumption as above)
Buyer stamp duty, mortgage stamp duty = same as above
Legal fee (Private): ~$1,500
Estimate cash: 5% + miscellanous ($1k)
2) Cost for $550k resale HDB:
Downpayment: 10% (CPF and/or grant) = $55k
Max. Loan-To-Value: 90% = $495k (household income ~ $8,300/mth), assuming able to take 25 loan tenure, assume you are at most 40 years old or less than. The loan amount will reduce if you are older, as this affects your loan tenure.
Buyer Stamp duty (~3%) = $11,100 (CPF if sufficient)
Legal fee (HDB): $1,296 (CPF if sufficient)
Mortgage stamp duty: $500 (CPF if sufficient)
Estimate Cash: $6k (including $5k option deposit + exercising fee, and miscellaneous)
Bank loan: (1.4x%)
Downpayment: 5% (cash) + 20% (CPF +/or CPF) = $27.5K + $110k
Max. Loan-To-Value: 75% (Household income ~ $7,000/mth, assumption as above)
Buyer stamp duty, mortgage stamp duty = same as above
Legal fee (Private): ~$1,500
Estimate cash: 5% + miscellanous ($1k)
Do contact if you prefer to have a more exact amount.
Hope the above answer to 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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