Hi,
- Get your HLE or IPA from the bank first.
- If you are eligible for HLE, make sure that you have 10% worth of valuation from your CPF at point of purchase. For HDB HG 4RM, its about $430K - $450K
- If you are obtaining bank loan, you will need 5% cash and 15% from CPF/Cash. 80% from bank
- Include agents commission of 1% - about $5K
- Stamp duty of about a $8100K +/-
- Conveyancy fee + caveats est about $500
From the above, you will have a guide to how much cash you need.
If you are getting HDB loan, you will be looking at a HDB in HG at 15K COV to be safe.
If you are getting Bank loan, you might have difficulty securing the deal due to your financial status.
You might want to expand your search as a 15K cov in HG is not easy to achieve, but not impossible. 2 months ago when i sold one in HG at 12K COV, its because the owner is under loan shark harassment and under going divorce and the place is deem inhabitable.
Regardless, hope this helps.
All the best.
Ken Tan
Huttons Asia Ltd
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