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Mark, your RIGHT choice
Propnex Read More

Hi

For PRs, the only option for loan is to go for a bank loan. Bank loan requires 5% cash and 20% CPF as downpayment. A flat that costs $350,000 would require $17k in cash deposit and $70k in CPF deposit. An Illustration for a flat that cost $350,000 is as below:
1) Cash deposit 5%: $ 17,000
2) CPF Deposit 20%: $ 70,000
3) Buyer Stamp Duty: $ 5,200 ( can be financed by CPF if there is enough OA Savings)
4) ABSD: $ 17,500 (can be financed by CPF if enough)
5) Legal Fee: est $1,800 ( can be financed by CPF is enough)
6) Loan needed: $262,500 (monthly morgage est $1,137 per month assuming maximum loan tenure of 23 years according to your profile)
Take note that in today's market where HDB is in a high demand, you need to be careful of not purchasing a flat at too high a price to attract COV. I am specialised in HDB transactions. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More