Dear CML,
Following is for your reference and guide only. I will suggest that you could contact me directly for a detail financial plan so that you can plan ahead better. Thank you.
(A) Assuming the buyer is taking a bank loan, general financial plan as follow..
Loan Amount base on 1st property to be purchased : 80% x Resale Valuation
CPF UTILISATION :
1. At least 15% x Resale Valuation
2. Stamp duty
3. Legal fee for the purchase
CASH UTILISATION :
1. 5% x Resale Valuation
2. Cash Over Valuation (COV), if any
3. Short fall of those that are payable by CPF, if any.
4. Agent fee
(B) Assuming the buyer is taking a HDB loan, general financial plan as follow..
Loan Amount base on 1st property to be purchased : 90% x Resale Valuation and subject to HLE amount.
CPF UTILISATION :
1. At least 10% x Resale Valuation
2. Stamp duty
3. Legal fee for the purchase
CASH UTILISATION :
1. Cash Over Valuation (COV), if any
2. Short fall of those that are payable by CPF, if any.
4. Agent fee
SUNNY PHUA
OrangeTee
R031750D
Mobile:
81685708
Email: sunny.phua@orangetee.com
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