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I am looking to buy a HDB in pasir-ris for staying with my family...I am from India & holding singapore PR..the question I hv is that after some initial research I have done...I understand that as per today's market...I need atleast SGD 1500000 as a downpayment for a 3 bedroom hdb this includes 20% of valuation & COV..now I have around 50000 with me & for rest of the amount I am planning to take personal loan...my income is that much that I wil be able to pay EMI's for personal & home loans...let me know if this is approach is ok...is it legal as per singapore property law...
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2 Answers

Geryl Lim
Replied
Hi Daman,

For financial planning aspect, it'll be the best if you can talk directly to a professional banker. If you need contacts of reliable bankers, feel free to approach me as I do have a network with bankers from the various banks in Singapore who will be more than willing to assist you if there is a need.

Regards,
Geryl LIM
CEA R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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Mike Lim
Replied
Hello Daman,

The average valuation for 4 room flat, in Pasir Ris, range from $350k to $420k. 20% of this is about $84k. Average COV is around $50k. So for 4 room flat, the cash component would be around $150k. This figure would have covered your legal fee, stamp fee and agent fee.
This figure would change if you were to look for a 5 room flat.
Do feel free to contact me for further assistance.

Thanks
Mike Lim
 96929209 
ERA Read More
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