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Me and husband both PR and we have total 40K of cpf, but shortage of cash. We planning to buy resale 4room unit at budget 310k, will we have any issue on that?Can we borrow the cash from bank ?
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1 Answer

Mike Lim
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Good afternoon,

As SPR buyers, both of you need to fulfill 3 years before you are eligible to purchase resale HDB unit. With 80% loan on the mortgage, you will need at least $36k cash to proceed with the purchase. This would cover the ABSD payable, 5% down payment, valuation and admin fee and commission payable towards your servicing agent. You can try it obtain personal or cash loan from banks but it would be ideal to speak to your banker personally.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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