Good morning buyer,
If you are eligible to obtain up to 80% bank loan (still subject to total debt servicing ratio), your initial outlay will be as such:
1) 20% cash downpayment
2) estimated 3% buyer's stamp duty
3) 15% additional buyer's stamp duty as foreigner
4) $3k legal fees
5) valuation fee, stamp duty for mortgage etc.
If you turn SPR, your initial outlay of estimated 38% of the purchase price as a foreigner will reduce to 28%. ABSD for SPR is 5%.
Hope my explanation helps!
If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171