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My HDB loan is fully paid up. If I wish to buy a private property, this would be considered my first housing loan right?

In other words, I could get LTV 80% for loan tenure up to 30 years and till age 65 years old. This would be in the form of minimum 5% upfront cash payment and 15% down payment can be paid by CPF, correct?
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4 Answers

Hi,

Yes you can get max loan 80%. Typical breakdown for 2nd property purchase as follows:

Cash 5%
Cpf 15%
Max bank loan 80%
Stamp duties and legal approx (3+7%), due to ABSD of 7% if you are SC getting 2nd property.

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 ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials) Read More
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Dear Sir/Mdm,

Yes you are right. Congrats on your path towards financial freedom. You will however, need to take into consideration the 7% Additional Buyer Stamp Duty which you will be liable if you are purchasing a private residential property for rental income.

There are a lot of options available in the market right now and getting the right product will ensure that you will be able to enjoy a steady stream of rental income while waiting for the potential appreciation of asset value.

Please feel free to contact me so that I can understand your objectives better and recommend you some options which I feel are worth investing in!

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

Testimonial from Satisfied Clients (2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
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Hi,
Yes, your next property loan will be consider 1st ppty loan, hence can loan up to 80%. You can utilize CPF for the 15% down payment, stamp duty and legal fee. Please drop me an email for me to share more.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Robbie Chen Chee Howe
Hi,

You are absolutely correct. But I just want to add in 2 things for you to take note.

1) You will need to set aside Additional Buyer Stamp Duty (ABSD) of 7% for second property for Singaporean.

2) You will need to set aside half-minimum sum in your CPF-OA and SA, before you can utilize any remaining CPF monies in your CPF-OA towards your second property.

Taking into account the above 2 points, have you considered if this is the best possible option for you? Have you explored other ways to go about owning a second property? Do you know that it may be possible for you to have SAVINGS from ABSD?

I'm sure you're keen to explore all options available to you, before jumping into any purchase, right? Afterall, in this Buyers' Market, where there are so many options for you, it does makes sense for you to explore your options first before any commitment.

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
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