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I am 31 years old , Single ,6th years of SPR status and interested to buy a condo in Singapore. I have a friend with similar profile for joint applicants.
How much we need for a condo of 2 bedroom in east side of singapore . Can we know the breakdown and possible loan options if it's joint applicant?
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4 Answers

Aaron Chong
Replied
Hi, you may want to look at 1Suite project. It is a loft unit which could be converted into 2 bedroom and price will be around 650k. What's more, this condo is a freehold. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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Ivan Ng
Replied
Hi,

Assuming a 900K purchase,
Breakdown as follows:
5% cash 45K
15% cpf 135K
8% (approx) stamp duties (BSD + ABSD) 72K
80% max bank loan

This bank loan will be based on your joint income levels, age profile and any outstanding loan obligations you all have.

May I understand your requirements further before value-adding? Will be glad to assist.

Thanks and warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More
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Mike Lim
Replied
Evening,

For your case, you can opt for joint tenancy or tenancy-in-common. One comes with "auto" inheritance for the surviving party while the other is subjected to administration by means of WILL. As for the loan option, you can opt in the percentage the individual owners will have to contribute, either via CPF or cash.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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  • AA
    Replied
    Tenancy in common - both CPF or Cash it can be shared 50% each ?
    Like Cashdown 15% (CPF) by two SPRs and Bank Loan also.

    CASH
    (1) Down Payment 5%
    (2) Buyer Stamp Duty (3% minus S$5,400)
    (3) Additional Buyer Stamp Duty (SPR first property = 5%)
    (4) Other fees (Legal fees/ Insurance/ Valuation)
    ~S$3K


    CPF
    (1) Downpayment 15%
    (2) 80% installment payment
    Estimated 800K-900K of above I need

    For your info, I am just started planning ahead my financial so it will not be very fast decision or process in buying. So , Thanks for all other people suggestions given to me . Really appreciate it.
YT Tan (陈永达)
Replied
Good evening,

Normally as a private property purchaser, you won't have to pay any agent fees as your representative will be getting his share from seller's agent if not developer.

And there's no restriction on how many bedrooms apartment or condo you can purchase.

Lastly, you can make arrangement via your law firm or CPF for the percentage of cash/ CPF OA funds for downpayment or monthly mortgage repayment.

I can introduce my banker and law firm to you so you can find out how much loan can you obtain and the necessary legal information you might be keen to find out.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
R043025D
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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