7 Answers

Hi there!

Congrats in making the decision to be first time home owners. This is seriously a big decision and perhaps the most expensive purchase for some. Definitely, it requires a lot of information in order to make that informed decision.

To answer your question, HDB loan can only be used in purchasing HDB. If you would like to buy a condo, you would require a bank loan.

I am sure there are many questions that you have. If you would like, we could do a meet up for a casual discussion on this. I can take the opportunity to answer any questions that you may have and most importantly we can share some insights.

We have served many clients over time and many of them are now our friends. Some of them have also left testimonials for us for our service rendered. You may take a look at them on www.elainechia.com.

Looking forward to hear from you soon! Cheers!

Best Regards,

Elaine Chia
Marketing Director
ERA Realty Network Pte Ltd
Mobile: +65 9008 1737 
Email: ms.elainechia@gmail.com
Web: www.elainechia.com Read More

For 1st timer condo purchase by Singaporean, breakdown as follows:

Cash 5%
CPF 15%
Max bank loan 80%
Stamp duties and legal fees 3%

You can't take a HDB loan for condo, only bank loan. Bank loan amount depends on your age, credit, income profile and any other debt obligations you have at the moment. Thanks and may I know which condo are you keen on? Hope to assist with your plans further.

Warm regards
Ivan ERA
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
Hi, for purchasing of condo, it has to be bank loan instead of HDB loan. Pls feel free to let me know if you need any banker's contact or require any other assistance.

aaronchong2774@yahoo.com.sg Read More
YT Tan (陈永达)
Good morning buyer,

I am afraid to inform you that you are only eligible to obtain up to 80% bank loan (still subject to total debt servicing ratio) for your purchase of private property.

The initial outlay will be:

1) 5% cash downpayment
2) 15% CPF OA or cash downpayment
3) estimated 3% buyer's stamp duty
4) $3k legal fees
5) valuation fee, stamp duty for mortgage etc.

How much finances do you have on hand for this purchase?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
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 Read More

If you are looking at buying condo, you will have to obtain mortgage loan from bank. For HDB loan, it's only applicable to buyers for purchase of HDB, with a monthly income of not more than $5k under single scheme.

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

Mike Lim
ERA Read More

Thanks for your query!
For private property, the loan can only be obtained up to 80%. Cash portion will be 20%.

Initial cash outlay:
20% Cash:
15% CPF, 5% Cash
3% BSD
Legal fees and misc

The first step to move ahead is always getting the finances settled. I can link you up with my bankers who will assist you with the approved loan , at no cost. If you have your own preferred banker, that's fine too. Following that, I will conduct the financial cash computations and progressive payments with timeline to illustrate the options you could consider.

Perhaps you can share more on your objectives but most importantly the requirements ; any particular type/ location/ budget to conduct a comprehensive search and shortlist of appropriate units.

Furthermore, there is NO agent fees involved! So you can take this opportunity to discuss more on your preferences & for me to give an entire overview and share more insights to the market, chart out the market price analysis and recent sales transaction caveats, work out comprehensive financial cash projections and provide you with up to date information to the procedural steps and its associated wings- financial (loan) , legal matters etc.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

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Tricia Tan 陈丽子
Let me assist you with the financial in getting a ipa approval from bank first. From there we can go into the details of the cash and cpf portion.
Feel free to reach me via 91442664 
Tricia Tan
www.triciatan.myweb.sg Read More