Invest
Property Buying Tip #5: Cash Component
By Singapore Property Blog  •  February 20, 2013
Property Buying Tip #5: Cash Component

There is no minimum CPF amount required to be used when buying property in Singapore. In other words, you can use all CASH to buy property if you want to.

There is, however, a minimum Cash component when buying property:

  • If you have no outstanding home loan, you can take up to an 80% loan (subject to approval) with a minimum 5% cash plus 15% cash and/or CPF for the down payment.
  • If you have an outstanding home loan, you can take up to a 60% loan (subject to approval) with a minimum 10% cash plus 30% cash and/or CPF for the down payment.

Other than Booking or Option Fees, Stamp Duty and Legal Fees, don’t forget to put aside cash to provide for Property Valuation Fees, Mortgage Disbursement Charges, CPF Disbursement Charges, Property Tax and Maintenance Fees.

By Eileen Tan and Ui Wei Teck, property investors and authors of ...

...
Read the full article
By Singapore Property Blog
Propwise.sg is a Singapore property blog dedicated to helping you understand the real estate market and make better buying, selling, renting and investing decisions – minus all the hype and misinformation ...
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance