AskGuru Q&A Community

Afternoon Alok,

We will need to understand how much is your monthly income and your credit standing at the time of getting the loan. We will also need to know how much CPF OA you have since SA cannot be used to pay for housing installment.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good evening Alok,

May I know how much CPF OA funds do you have and have you spoken to a banker in regards to your in principle approval yet?

Do take note that as a SPR buyer, your initial outlay will be 20% downpayment (5% cash and 15% CPF OA funds or cash), estimated 8% stamp duties (3% buyer's stamp duty and 5% additional buyer's stamp duty as a SPR).

If you need any assistance in your property purchase, feel free to contact me.

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

Good day Mr. Alok Rathore,

Based on the information you have shared, it is modestly estimated that $70K would be available in your CPF OA for home purchase.

Here’s a Cash Flow summary for $610,000 condo as your guide:
Cash 5%: $30,500
15% Cash/CPF: $91,500
BSD: $12,900
ABSD 5%: $30,500
Lawyer’s Fee: $2,500
TOTAL INITIAL CASH/CPF: $167,900 < $170,000

Based on Max. 80% LTV and Average Interest Rate 1.5% for 30 years:
Loan Amount: $488,000
Estimated Monthly Mortgage Payment for Uncompleted Condo: $211 (First 6mths) to $1,685 (Upon Completion)
*Minimum Salary required to qualify for this loan amount: $3,700

I would like to recommend The Santorini at Tampines Street 86, we have 1BR units 527sf starting from $579,150 and you may even consider a unit with pool view on higher floor at $611,000.

For more information including floor plans, please visit: http://www.propertyguru.com.sg/listing/17843421/for-sale-the-santorini
http://www.propertyguru.com.sg/listing/17843689/for-sale-the-santorini

Please approach your bank as soon as possible to get Approval in Principle for your loan, feel free to contact me should you require recommendation. While waiting for the loan approval, please contact me to arrange for showroom viewing and narrow down your preferred unit.

You may like to know that these units are moving fast as they are quite affordable. Just a few weeks ago, we still have units under $570K but they are SOLD now. Please act fast before these under $580K units are gone too.

Thank you and have a pleasant week ahead.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 822 50 212
Email: karrien.realty@yahoo.com

Powerful Negotiators
No. 1 Team in PropNex Realty Pte Ltd (L3008022J Read More