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Good morning Sir/ Mdm,

Cash component will depend whether you take HDB or bank loan.

HDB loan max 90%, 10% downpayment can be fully by CPF OA funds.
Bank loan max 75%, 25% downpayment: minimum 5% cash; balance cash or CPF.

Other costs will be:
- buyer stamp duty (3% of purchase price - 5400)
- legal fee
- valuation fee $120 cash
- resale application fee $20 cash
- agent commission (1% of purchase price plus gst) cash

For cash components, you have to pay cash. Any housing grants will not be able to cover cash component.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi,

1) Upfront cash will depend on which type of loan you are able to get:
(a) HDB: 10% down payment, max. up to 90% LTV.
(b) Bank: 25% down payment, max. up to 75% LTV.

2) Using 1(a), you only need to prepare around $5k for the OTP deposit and exercise fees.
3) Using 1(b), you will need 5% cash. This also covered the OTP deposit and exercise fees.

4) (2) & (3) is assuming you have sufficient funds in your CPF OA for the 10% down payment (HDB loan) or 20% down payment (bank loan). You have to prepare cash to top up if the CPF fund is insufficient.
5) You also need to prepare funds for buyer stamp duty and legal fees.

6) Using your budget of $360~$380k, the cash needed are as follow:
(a) HDB loan: $5k
(b) Bank loan: $18k~$19k
(c) Stamp duty: $5.4k~$6k
(d) legal fee: $1.5k~$2k

7) Your grants can only use like it is your own funds in CPF OA. Grants have to be utilized to pay for the down payment and to reduce the mortgage loans.
8) Grants will be utilized for the payment of the flat only, and cannot be used for the stamp duty and legal fee.

Hope the above answer 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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