Asked by Mr. Jason Lum
If I am a single with an approved in principle for an amount of $460k by the bank & I work backwards (assuming this is 80% of the sale price), it would mean I can purchase a property of about $575k. If that were so, I would need: 5% cash to pay seller 15% cpf/cash 3% - $5400 stamp duty $5k - $30k COV 1% agent fees $3k legal fees $200 valuation documents $60 booking fees However, if I were to look at properties in excess of $600k, say $650k, how does that affect my finances? $32,500 5% $97, 500 15% $14,100 stamp duty $5k - $30k COV 1% agent fees $3k legal fees $200 valuation documents $60 booking fees Assuming I can afford all the above, how would the amount below be managed? Cash? CPF? Loan amount excess / shortfall = $60k
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