Asked by n***@hotmail.com
For HDB resale and taking a bank loan, is the 5% cash down payment ON TOP of the COV? Let's say purchase price is $510,000 and HDB valuation came out to be $500,000, my cash outlay would be 5% of $500k ($25k) plus COV of $10k? Or is my cash outlay 5% of purchase price $510k ($25,500), in other words, the COV can be covered by the $25,500? I am getting conflicting results from various financial websites.
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