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Hi LCL,

The next loan for your next purchase will max 80%.

Downpayment of 20%: 5% Cash + 15% Cash/CPF
Stamp Duty: 3%-$5400
ABSD: 7% for SC or 10% for PR
Legal Fee: approx $3500

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William Koh
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Hi Mr./Ms. Ong,

As you have mentioned that you have a fully paid landed house, assuming that you have no other outstanding residential housing loans, you are entitled to take up to a maximum 80% loan based on banks assessment just like what Zhiwei has mentioned. Alternatively, you may wish to explore equity loan from banks (gearing) based on your existing landed home for more cash availability for your purchase, which I suppose is what Charles is suggesting.

I would be able to assist you better if I can be clearer on what your expectations are.

Regards,

Geryl LIM
Senior District Manager/Real Estate Consultant
CEA Reg R014783H
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Hi Mr/Ms Ong,

A very happy new year to you!

Based on the current regulations, you can loan up to 80% and as for the other 20%, 5% will need to be in cash and 15% can be in cash or CPF.

The rest of the amounts involved will be our normal buyer stamp duty and also the Additional Buyer's Stamp Duty (ABSD). For the ABSD, it is currently set at 7% for a Singapore Citizen's second property and 10% for a PR. Legal fees will range from $2,300 - $3,500.

If you are intending to utlize your CPF for your second property, then we will also need to take into consideration, the CPF Minimum Sum.

If you have any other queries, please feel free to let me know. Thanks.

Best Regards,

Jeffrey Heng
Senior Team Director
ERA Realty Network Pte Ltd
Property Navigators (The #1 Team in ERA for 2009 and 2011)

Mobile : 9858 1322 
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More