AskGuru Q&A Community

Hi,

Your downpayment will depend on the loans that you are able to obtain. And the banks will lend you 80% or 60% based on the mortgage under your name. (different from property ownership)

If you are still servicing your loan, you are liable to only 60% max loan from banks.
Means your downpayment is 40%.

If you have finished servicing your loan, you can get 80% loan. That means 20% downpayment.

Feel free to check with me for more advice.

Cheers.

Ken Tan
 96461490 
kentanpropertyguru@gmail.com Read More

Evening,

As to how much downpayment is required, it would dependent on your current financial status. Is your current unit still under mortgage or have it being cleared? Are your credit and income status healthy? Do you have hefty amount of Fixed Deposit with any banks?

Such dependency will provide you with different results. Getting a banker to assess you prior to making any hasty decision would be wise.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More

Hi Ms F,

If you have existing mortgage loan, you will only be eligible up to max 60% loan for your next purchase.
If no exisiting loan, it will be 80% max.

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Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
www.sgRippleBay.com
www.sgBartleyResidences.com
www.sgSkyHabitat.com
www.myBedokResidences.com
ERA Read More

60%/40% for those with outstanding loan.
www.catherinepang.com Read More

Hello,

In case you have an existing loan on for your first property then the funding for the next loan wd be for only 60% of your principal. Hence you need to have the bal 40%. Plus the stamp duty ( pls refer the IRAS website for stamp duty for SCs, PRs, Foreigners)

You may write to me on realproperty63@yahoo.com.sg

Regards,

Radhika - DTZ- 93380071  Read More