Hi Hla Naing,
I believe you are referring to is a HDB unit?
You are only available for bank loan, which their interest rates are rather low now, lower than HDB interest rates!!
For PRs, for example, you wanted to purchase a 3 rm flat with Valuation=$200k and Cash over valuation=$10k and a bank loan approval of 80% of the valuation price,then,
Cash over valuation = $10,000 (In cash)
5% of valuation price = $10,000 (In cash)
15% of valuation price = $30,000 (CPF if sufficient, else top up in cash)
LAwyer Fees = No more than 3k (Cash)
Stamp duty = $2400 (CPF if sufficient, else top up in cash)
Conveyancing Fees = $1000 (CPF if sufficient, else top up in cash)
Agent Fees= $2100 + 7% gst (Cash)
Hope this will give u a clearer picture.
And of course, for PRs to buy a HDB flat, there will be more rules and regulations to observe otherwise it would land you in paying much more additional costs!!
For your mentioned combined income of $6k, perhaps u can let my banker to check if you can get up to 90% of the valuation price as loan.
I would need more particulars. Please give me a holler or email me and i arrange the bankers to help out to reduce the cash portion in buying the flat.
Cheers,
Brandon - ERA Marketing Director
HP: 8233 23 23
Email: aw.brandon@gmail.com
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