Hi,
1) It depends on your current situation. Is there a Singapore Citizen (SC) component on the purchase application?
2) If there is an SC in the formulae, you will be entitled to an HDB loan, unless you have already utilized it twice.
3) HDB loan; the minimum down payment is 10%.
4) If there is NO SC in the formulae, you can only apply for a bank loan.
5) Max loan for the home purchase from the bank is 75%. You have to prepare 5% cash, 20% to be in cash and/or CPF. That is to say, the minimum down payment is 25%.
6) How much loan you may receive is dependent on your active income for the past 3 months (CPF contribution), past 6 months (non-CPF contribution), assess according to MSR (Mortgage Servicing Ratio) as determine by MAS (Monetary Authority of Singapore).
Hope the above answer to your main concerns, but if there are more query, 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://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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