Happy new year to you, Janice.
Do take note that you have to fulfill your MOP first before you are eligible to purchase a private property.
Btw how much initial outlay you need to fork out will depends on whether do you have any current outstanding housing loan and your nationality.
If you are a Singaporean and you have outstanding housing loan, your initial outlay will be as such:
1) 25% Cash downpayment
2) 25% CPF OA or cash downpayment
3) estimated 3% buyer's stamp duty
4) 7% additional buyer's stamp duty
5) $2.5k legal fees
6) $500 stamp duty for mortgage
7) valuation etc
It will come up to be 60% of your purchase price.
If you dont have any outstanding loan, it will be as such:
1) 5% Cash downpayment
2) 15% CPF OA or cash downpayment
3) estimated 3% buyer's stamp duty
4) 7% additional buyer's stamp duty
5) $2.5k legal fees
6) $500 stamp duty for mortgage
7) valuation etc
It will comes up to be 30% of your purchase price.
Hope my explanation helps!
Probably you can share more information with me so I will be in a better position to advise and assist you further.
Hope to hear from you soon!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg
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