Asked by Mr. Jimmy A
I am a PR here and my dad is a foreigner. Would like to buy a condo around 1 million. We have since found the unit and we have enough cash to make a down payment of 30%. Problem is that my salary is around $2k/mth range so banks wouldn't want to loan me that big amount of money. I have looked around and realised that another method is to apply as joint owners and submit a total income of me and my dad. He has a salary range around 10k/mth , so will that be successfull. My bigger concern is however the stamp duty for joint ownership . Since this is my first property will we only have to pay 3%(as PR) or will the government take the foreigner rate (13%) or will we have to pay both (13%+3%) ?
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