Asked by Anonymous
I am Singaporean, how much cash in total do i need to buy a condo of 900k in singapore, can i use my CPF?
1357 views
6 Answers
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
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
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
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
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
I am reachable at my mobile.
CK Ang
9046 3808
Vestor Realty Read More
Evening,
You are allowed to use CPF to pay for the mortgage and downpayment for your purchase. This is provided that you have not reached retirement age or the unit's lease still have a balance of at least 60 years. As for how much cash you will need, this would depend on your loan status and how much CPF you have at hand.
Do feel free to contact me for further discussion.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More
You are allowed to use CPF to pay for the mortgage and downpayment for your purchase. This is provided that you have not reached retirement age or the unit's lease still have a balance of at least 60 years. As for how much cash you will need, this would depend on your loan status and how much CPF you have at hand.
Do feel free to contact me for further discussion.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More
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
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
Hi,
Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ 82798327 -
Why Should HDB Sellers engage me? Contact me @ 82798327
Questions Like .. Review ...
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Repayment Calculations
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Home or renovation Loans
Property Tax
hdb resale checklist
Getting a BTO Flat
Getting a licensed contractor hdb
Tenancy Agreement For renting or rent out a house
home insurance coverage - HDB Fire Insurance
What is OTP ?
Blessed , Regards
Koh.Z.H - Agt
hp- 82798327
Cea Reg - R 0 5 7 8 1 0 C
Orangetee - L3009250K
AAG Team Agent
***Recruitment Agt Welcome
My propertyguru Commercialguru Site
http://www.propertyguru.com.sg/agent/mr-koh-z-h-481485/koh-z-h
Welcome owner/Landlord to list through us Read More
Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ 82798327 -
Why Should HDB Sellers engage me? Contact me @ 82798327
Questions Like .. Review ...
Recommended
SIBOR / SOR – FLOAT RATE LOAN
Mortgage Calculations
Repayment Calculations
Difference Between HDB n Bank Loans
Home or renovation Loans
Property Tax
hdb resale checklist
Getting a BTO Flat
Getting a licensed contractor hdb
Tenancy Agreement For renting or rent out a house
home insurance coverage - HDB Fire Insurance
What is OTP ?
Blessed , Regards
Koh.Z.H - Agt
hp- 82798327
Cea Reg - R 0 5 7 8 1 0 C
Orangetee - L3009250K
AAG Team Agent
***Recruitment Agt Welcome
My propertyguru Commercialguru Site
http://www.propertyguru.com.sg/agent/mr-koh-z-h-481485/koh-z-h
Welcome owner/Landlord to list through us Read More