6 Answers

Hi,
The min cash is 5% of the purchase price. For a 600k 1 bedroom condo, it will required 30k cash. Below are the breakdown.
- 5% deposit
- 20% down payment
- 3% stamp duty
- around 3000 legal fee

Please drop me an email for any other questions.

CK Ang
res.ckang@gmail.com
 9046 3808 
Knight Frank Read More
0
Dear sir/madam,

So far, the cheapest private residential unit in the market is transacted in the range of $520k, therefore, given the minimal 5% cash required, it works out to $26k, where CPF component of 20% works out to be $104k. Stamp duty applicable is around $10,200 and the conveyancing is around $2500.

Based on your monthly income indicated, assuming you have no monthly debt required to be paid off, you likely able able to secure the home loan in the range of $530k (please double check with a banker on this as it can impact your home purchase plans greatly).

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0
Hi,

Assuming a new launch condo price of approx 600k, the indicative breakdown is as follows:

Cash 5% 30k
CPF OA 20% 120k
Max Loan 75% 450k
Stamp duties approx 3% 12.6k (payable by CPF OA)
Legal fees approx 2.5k (payable by CPF OA)

Assuming no other major loan installments, and good credit score history, your max loan attainable should be approx 550k, subject to bank assessment and approval. Assuming a loan of 450k, 2% fixed interest rate and 30 year loan tenure, the monthly mortgage works out to approx $1,700.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Robbie Chen Chee Howe
Hi,

The CASH downpayment is minimum 5% for all private property purchases.

Hence, based on your CASH of $20k, you will be able to make the downpayment for a $400k condo. ($20,000 / 5% = $400,000).

Unless you can find ways to increase your CASH, I think it is unlikely for you to get a good property in the $400k range.

Even if you do find such a deal, DO NOT just purchase it because it is CHEAP. You should first work out the potential of the property before committing to any deals.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
0
Dear Sir/Mdm,

From the information that you have shared, you seems to be in a good financial position to start investing in property. It is always advisable to start early since prices in Singapore is always on the uptrend and your earning power will continue to increase in the long run.

Based on the preliminary assessment, you should be able to afford a property of about 730k and be able to loan up to a max of 550k. It is advisable that you do not overstretched yourself financially as well.

Please feel free to contact me so that I can do a thorough assessment of your financial position and also share with you some of the products that have got good upside potential.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
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