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Will you be comfortable to disclose your existing cash component you can put into this purchase in order to better work out the possible options?

Just by basing on your current income and age, you will be eligible to loan around $740,000 if you are intending to purchase a private property or $405,000 if you are purchasing a HDB. With better understanding of your existing funds on hand, we will then be able to know what your options are better.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Geryl Lim
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Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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Hi,

Your income should be eligible for $707k bank loan for pte prop or $475k hdb loan, assuming no other loan commitments and good credit score subject to bank or hdb approval.

If looking at private property, you should be able to get a $1mil property provided that you have set aside $100k cash for this property purchase. If looking at HDB, you should be looking at approx $780k if $100k cash is set aside for the property purchase.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
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Good morning,

Your HDB loan is estimated from $384k to $442k depends whether you are taking HDB or bank loan.

Your estimated bank loan for private purchase is $719k.

Buying a HDB using HDB loan and CPF on hand is definitely not an issue.

Do you have any cash on hand? Care to share more information so I will be in a better position to advise which option might work better for you?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

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

Hi,

1) If you are a Singapore Citizen, you will have options of buying an HDB flat or a private residential property.
2) To be honest, making $7k a month will reduce your lifestyle if you decided to buy a private residential property.
3) Unless you have other sources of income that allows you to reduce your mortgage loan tremendously.
4) Assuming you don't have a financial commitment at the moment, you may get around $397k for HDB flat and $746k for private residential property.
5) If you planned to buy an HDB flat for around $500k, your budget shall be as follows when using an HDB loan:
(a) 20% down payment: $100k (in cash and/or CPF)
(b) 80% loan: $400k
(c) Buyer stamp duty: $9.6k (cash and/or CPF)
(d) Mortgage stamp duty: $500 (in cash)
(e) Legal fees: $1.5k (in cash)
(f) Your monthly mortgage payment is around $1.8k for 25 yrs at 2.6%, where $1.2k can be deducted from your CPF monthly contribution. You will need to top up $600 per month.
So from your loan eligibility, you can use a portion of your CPF funds to increase your down payment.

6) If you planned to buy a private residential property for around $1M, your budget shall be as follows when using a bank loan:
(a) 25% down payment: $50k (5% in cash), $200K (20% can be in cash or/and CPF)
(b) 75% loan: $750k
(c) Buyer stamp duty: $24.6k (cash and/or CPF)
(d) Mortgage stamp duty: $500 (in cash)
(e) Legal fees: $2.5k (in cash)
(f) Your monthly mortgage payment is around $3.87k for a max of 26 yrs at 4%. After deducting your monthly CPF contribution of $1.2k, you will need to top up $2.67k per month.
You may see that you will need to top up cash in order to afford a $1M property, and your annual holiday has to either be cut short or reduce in number in order to service your monthly mortgage.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, 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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