4 Answers

YT Tan (陈永达)
Good evening buyer,

If you can obtain a 80% loan (either no housing loan or fully paid housing loan currently), your 20% downpayment will comprise of 5% cash ($45k) and 15% CPF or cash.

Buyer's stamp duty will be $21.6k
Additional buyer's stamp duty (if applicable) will be $63k.

You can use your CPF OA funds to finance your 15% CPF downpayment or your monthly mortgage repayment.

But if you have utilized your CPF OA funds for your current property (if applicable), you need to keep a minimum sum of $77.5k in your CPF OA+SA before you can use the excess.

Other misc fees will be legal fees, valuation fees, stamp duty for mortgage etc.

If you need any assistance in your property purchase, feel free to contact me.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

0

Ivan Ng
Hi,

May I understand your requirements further before advising? Are you considering to

1) HDB upgrade to EC
2) HDB upgrade to Condo
3) HDB upgrade to under construction EC or condo
4) 1st time buying EC or Condo
5) Keeping both HDB and condo

As each scenario involves a different outcome in terms of stamp duties and downpayment, will be glad to share with you the ideal entry approach while minimizing your risks.

Generally speaking, if you have no outstanding housing loan, you can obtain 80% bank loan, and your downpayment has to be 5% in cash (minimum), and balance 15% in CPF. You can also use CPF to pay for your stamp duties and legal fees.

May I speak to you understand your requirements further and share with you the pros and cons of the projects you are keen on? Thanks and hope to speak to you soon!

Warm regards,
Ivan ERA
97432395
Ivanng10@gmail.com Read More

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CK Ang
hi, I normally work with my buyer the estimated loan with their finance follow by the estimated details breakdown of the cash required.

I am reachable at my mobile.

CK Ang
9046 3808
Vestor Realty Read More

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YT Tan (陈永达)
Good evening,

I will advise you to start working on your property sale and at the same time, do house hunting but only commit to the purchase after your sale.

Why?

Because currently its a buyer's market. Buyers are spoilt for choices thus it will take some time to dispose off a property nowadays.

Maybe you can share more details on your property so I can calculate your sales proceeds and work out a financial plan based on your purchase.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

0