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Hi, i am intending to buy a resale house as a first time applicant.besides cov,is there any other cash payment that i need to prepare for?i heard that there is a payment of 10% of the valuation of the house.is this true?
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1 Answer

Mike Lim
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Evening Zam,

If you are buying a resale HDB using HDB loan, for SC, the downpayment is 10%, payable by CPF. You can top-it up with cash if your CPF is not enough.

With bank loan, if you get 80% loan, 5% must b cash, 15% can be in CPF or cash. Depending on how much CPF you have, the cash componenet required differ. Legal and stamp fee for purchase can be pad using CPF. COV and commission payable must be in cash.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
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