Hi,
1) Total CPF = $184k. Means by buying this house, e.g. $300k. You can only withdraw up to a maximum of $184k, the rest has to be paid using cash ($116k).
2) By adding your cash and loan, your budget for purchase is limited to $250k. And this has to include stamp duty and legal fees.
3) Using a simple calculation you only can offer a maximum of up to $245.6k. Buyer stamp duty = $3,112, legal fees ~$1,200. Total = $249,912.
4) Let said your loan tenure is 10 yrs, which means that $184k/10/12 = $1.53k/mth.
5) Your loan + interest = ~$113k. Monthly payment is $950k.
6) From (4) & (5) You can see that the Total usage of CPF is not affected since you only need $113k to repay from your CPF.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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