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I am a Singapore PR and I am planning to buy a HDB (or a condo if it's within budget).

Forgive my lack of knowledge about this, my question is how many percent do I have to shell out for the downpayment when buying an HDB?I know there has been changes in the ruling lately but I would like to get it straight from a property agent. Roughly how much is my total cash out including all the other fees+COV+DP for a property that cost around SGD 400,000?

I hope someone can give me a good view on this before I really get serious on buying an HDB (or a condo if my budget permits).

Regards,
Neo
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1 Answer

Johnny Goh Mui Huat
Replied
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
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