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Hello

I will suggest u get an approved in principal bank loan to see how much u can loan and work backwards.

The loan size is also dependent on ur age .
Check the amt of loan u can get before u jump into searching for ur flat.
You can whats apps me at 9.7.5.0.8.3.1.8
if u have further question and bankers contact.

Silvia Chua
ERA Realty Network Pte Ltd Read More

Hi,

1) Yes, your hubby's CPF fund can be utilize for the downpayment, and using your salary to service the monthly mortgage.
2) The only problem you might be encounter would be with only your current sole salary, yuo could only able to loan from the bank of around $250k.
3) The above estimation is assuming you are 40 yrs and below and able to loan for 25 years.
4) Since as a PR family, you could only loan from a bank. This implied that you will have to fork out 5% downpayment in cash, the other 20% in cash and/or CPF.
5) You will have to prepare another 5% ABSD on top of the ~3% buyer stamp duty.
6) The first thing after your PR status meet the 3 years requirement is to apply for an HFE to understand the financial commitment you have to face by buying an HDB flat.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://www.linkedin.com/in/ckling/
https://agents.huttonsgroup.com/R056727F/

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Good day to you,

Once you've completed the 3-year SPR status, both of you will become eligible to purchase a resale HDB unit. Under joint ownership, the mortgage can be in your name while your spouse's CPF can cover the initial payment. The key challenge now lies in the amount and duration of the loan that the bank will approve, as this will significantly affect how much cash you'll need to set aside, in addition to the ABSD you’ll have to pay.

Why don’t we get together and work out the details?

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Yes you can do what you are describing if you plan things out properly. Will be happy to work together to support your home buying journey!

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.

Feel free to reach out via whatsapp or email. :)

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Dear madam,

It is possible to purchase the resale HDB after you have reached the 3 year mark as a SPR, with your husband as co-owner in the application in order for both of you to utilise your CPF monies for the payment, even though if you are the sole borrower for the loan.

I am also under such arrangement for my current place.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market. Check out the EdgeProp featured article on myself recently at https://www.edgeprop.sg/property-news/geryl-lim-leading-landed-real-estate-heart-hustle-and-harmony

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Since all of you are Singapore PRs, you can form a family nucleus and buy a resale HDB flat (just note that PRs are not eligible for BTOs).
• Income: Yes, you can proceed with a single income of $4,400. What matters is whether the loan amount you qualify for (based on your income and age) is enough for the flat price you’re targeting in Punggol.
• Downpayment: Your husband’s CPF can be used for the downpayment, even though he has no current income, as long as he has sufficient CPF Ordinary Account savings.
• Monthly loan: It’s fine for you alone to service the monthly instalments from your salary (and CPF if available).
• Other costs: As PRs, you won’t be eligible for CPF housing grants meant for Singapore Citizens, and you’ll also need to factor in the ABSD of 5% (since you’re SPRs without a SC in the household).

So in short: yes, it’s possible with your income + his CPF for downpayment. The key is making sure the loan quantum you can get matches the flat price. Read More

Hi, appreciate your sharing. Able to meet up and share in detail.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

✔1 Get bank approval-in-principle to know your loan limit.

✔2 Use spouse’s CPF for downpayment; salary covers monthly mortgage.
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✔3 Single income may allow around $250k loan (under 40, 25-year term).

✔4 PRs borrow from banks: 5% cash downpayment, 20% cash/CPF.

✔5 Factor extra costs: 5% ABSD + ~3% stamp duty.

✔6 After 3 years PR, apply for HFE to check financial commitment.

“Do not save what is left after spending, but spend what is left after saving.” – Warren Buffett Read More