AskGuru Q&A Community

Good morning! In regards what type of loan you are taking, COV has to be paid in cash. As for downpayment, it will be slightly different. For 10% downpayment if you are taking HDB loan, you can pay by CPF in full. As for 20% downpayment if you are taking bank loan, you have to pay the 5% by cash, 15% by CPF/ cash. If you need any assistance in your property purchase, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

Evening, If you are SC and above the age of 35, you will be eligible to purchase under single scheme. With HDB loan, your income should not exceed $5k and you are only required to pay downpayment of 10%, where you can utilize CPF. COV payable have to be paid by cash. But if you are getting bank loan, you need to prepare 5% of valuation in cash plus the COV component. As for the legal and stamp fee, you can utilize CPF to settle it. Do feel free to contact me if you would like me to represent you for the purchase. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More