Hi Mr Chan,
In another scenario:
Assuming that the property is $1.5million and you are eligible for 80% loan.
1. 20% Downpayment (5% in cash, $75K + 15% cash/CPF, $225K) = $300K
2. Legal Fees = (est) $3K
3. Buyer Stamp Duty (3% of purchase price - $5,400) = $39.6K
4. Additional Buyer Stamp Duty (ABSD), 7% = $105K
Est CPF required = $225K
Est Cash required = $222.6K
Est Total Cash = $447,600
With the recent TDSR rule, it would be advisable to speak with the mortgage banker, to have a better idea on your overall loan capability. Once we have the figure in mind, I could assist you in searching for your next home, that is both low risk and affordable.
Should you require further assistance, feel free to contact me.
Have a great day!
* Warmest regards, Christine
Huang Chuqin (Christine)
Mobile:
(65) 9478 3204
Email: christineloveswork@gmail.com
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