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Good evening David,

As both of you are not eligible to purchase public housing, you are only eligible for private properties.

You can use up to 15% CPF OA funds for the downpayment while the balance 5% with cash.

Other expenses will be:
1) estimated 3% buyer's stamp duty
2) additional buyer's stamp duty of 5% if purchase solely under your name. 15% if you purchase with your wife
3) $2.5k legal fees
4) $500 stamp duty for mortgage
5) valuation fee

Hope my explanation helps!

If you need further assistance or advise in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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(W): www.propertyavenue.com.sg Read More

Hi,

Yes you can only purchase private condo (new or resale). Be it resale or under construction private condo, for the 20% downpayment, its 5% cash+15% CPF. There will be cash top up required if CPF is insufficient.

Typical breakdown as follows:
Cash 5%
CPF 15%
BSD+Legal Fees 3% Approx
ABSD 5% (if your name sole purchase)/15% (with joint name with your wife)
Max Bank Loan 80%

Thanks and may I know which project are you considering at the moment? Thanks and hope to assist further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
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(Client's Testimonials) Read More

Evening David,

Since neither of you are SC, the only possible housing option is private condo. With 80% loan, you will need to prepare 5% downpayment in cash and balance 15% can be made with CPF. Do also note that 5% ABSD is also payable on the purchase should it be under your name.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi David, pls do take note that since your wife is a foreigner, then the stamp duty payable will be at 18%, should you have a joint property with her.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,
Below are my input.
1. Yes, private condo is the only option. Fyi, to reduce the ABSD (5% instead of 15%), you should purchase with only your name.
Below are my input.
2. CPF can only use for 15% down payment
3. 5% cash + 15% CPF

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi,

Re: Our Preferred Experienced SG Realtor

Yes, your option is private property. We can meet up in person to discuss in more detail.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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Hi David,

1. You may look at either private condos or shophouse where the 2nd storey can be utilised as a residential unit.

2. For purchasing, assuming you take up a 80% loan, the balance 15% can be paid by CPF but 5% has to be in cash.

3. For a private purchase, the cash component is as such:
a. 5% of valuation
b. 5% Additional Buyer Stamp Duties (ABSD) of the purchase price if buying only under your name or 15% Additional Buyer Stamp Duties (ABSD) of the purchase price if you are buying with your wife as she is a foreigner.

Please feel free to contact me for a full financial plan so as to plan your finances better!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

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“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

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