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Hi,

Besides the 20% downpayment, you will also have to consider the 8% stamp duties payable on the condo given your SPR status.

Breakdown as follows:
i) 5% cash
ii) 15% CPF
iii) 8% stamp duties (BSD+ABSD)
iv) approx 3K legal fees.
v) 80% bank loan

Is this SGD170K you are referring to paying for components i) to iv) ? If so you may have to consider going for a 1BR unit or raise your downpayment range to look for a reasonable 2BR condo unit. Will be glad to assist further on your financing enquiries. Thanks.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Good evening buyer,

do take note that you will be subject to additional buyer's stamp duty of 5% as a SPR for your first residential property purchase in Singapore.

Your initial outlay will be 28% of the purchase price provided you can obtain a 80% bank loan.

28% initial outlay will be such as:
1) 5% cash downpayment
2) 15% CPF OA funds/ cash downpayment
3) estimated 3% buyer's stamp duty
4) 5% ABSD
5) legal fees, valuation fees, stamp duty for mortgage etc.

Thus your finances of $170k might only be enough for a $610k property. If you don't mind property in Geylang, I believe you are still able to purchase a studio or 1 bedder there.

Are you open to stay in that area? There are a few projects that are going to TOP next year.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More