AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
My wife and I, both SPRs are looking to buy our first property soon. I am confused about the down payment for a private property. Banks can provide 80% of loan maximum but how can one fork out the remaining 20%? Can one use CPF+cash to pay the 20%? Any help is greatly appreciated.
0 •
385 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

YT Tan (陈永达)
Replied
Morning anshuljain,

20% downpayment is made up of 5% cash and 15% CPF. If there's shortfall in 15% CPF, it will be paid in cash.

Do bear in mind that other than 20% downpayment, there will be costs like buyer's stamp duty, legal fees and mortgage stamp duty.

Hope it helps!

Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions