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My husband and I are PR and we intend to get a HDB in Choa Chu Kang area, and the price is between S$350k to $440k for 4rooms HDB.

We have few questions and wish someone can help on it.

1. We don’t have cash on hand but our CPF OA have total around S$90k, is it possible using the amount from OA and pay for the deposit+stamp duty+others fee related with purchasing of the HDB?

2. If not, is there any other ways to help on getting a house in Singapore?

3. How much do we need to pay for the booking fee/deposit if we decide to purchase the unit that we view?

4. What is the step to getting a house in Singapore? Look for bank loan approval or agent first?

Thank you.
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1 Answer

Mike Lim
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Afternoon Joanne,

As both you and your spouse are SPR, both of need to have attain that status for more than 3 years before you are eligible to purchase resale HDB unit.
You will be eligible for max of 80% mortgage loan where 5% of the down payment must be made with cash. Balance 15% can be made using CPF OA.
ABSD of 5% will also be applicable with payment to be made in cash. Standard legal and stamp duty can be made using CPF OA.
Hence assuming that you are getting a unit at around S$420k, you will need to prepare around S$47k cash.

Do feel free to contact me for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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