Hi Dina,
Since you have no outstanding housing loan, only 20% (5% cash, 15% CPF) downpayment will be applicable to you while you can apply for up to 80% of valuation/ purchase price from bank.
Misc. fees will be buyer's stamp duty (3% x purchase price) - $5,400 and legal fees of about $2,800 to $3,000.
Yes of course you can use CPF to fund your second property but you have to be mindful of the rulings.
You must set aside half of the prevailing Minimum Sum before you can use the excess savings in your Ordinary Account for the second/subsequent property.
You can read more information from this link taken from CPF website:
http://ask-us.cpf.gov.sg/explorefaq.asp?category=23098
Why not let me introduce some bankers to you to assess the estimated loan amount you are about to loan first before embarking on your second property search?
If always best to assess your financial situation before committing.
Hope to hear from you soon!
Warmest Regards,
YT TAN
District Consultant
R043025D
(M):
9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
ECG Property Pte Ltd
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