1 Answer

Johnny Goh Mui Huat
Hi Neo,

Let assume you bought a HDB flat valued at $400k.

Therefore, based on 80% loan from bank, you will to fork out,
1) 5% of downpayment in cash = $20,000
2) 15% of downpayment in CPF/cash =$60,000
3) Stamp duty in CPF/cash =$6,600
4) Agent fees in cash =$4,000

I did not take into consideration of the COV, COV must be in cash only.

Thus, minimum cash you need will be around $96,000 in cash excluding COV, minus away what ever CPF you have in your OA now.

Hope I had answered your question.

Feel free to contact me if you required any assistance.

Thanks and Regards
Johnny Goh
Group Director
Dennis Wee Realty Pte Ltd
CEA registration number R018297H
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More