AskGuru Q&A Community

Afternoon Elyn,

I would assume that you are buying under single scheme. If you are first timer and SC, you will be eligible for $15k grant.
To purchase a resale unit, with $22k, you can hardly purchase a 4 room flat, as the deposit required is around $35k. Not forgetting the stamp fee, legal fee and salesperson's commission plus COV. Plus with your income, it's quite tough to get the required mortgage loan to finance the unit.
You might want to consider 2 or 3 room flat.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Elyn,

In addition to what Mike has mentioned, I would like to know if you have any other savings besides the $7k in your CPF usable. Basing just on the information you have provided, it is very likely that your choice is very much limited to 2 room flat, which maybe rare to find in today's market.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More