Question On 2Nd Home Loan

[Misc100 2]

Hi

Now that one need to fork out 40% for a second home loan, ie the loan can only be 60% of the purchase price. For the 40%, how much need to be in cash, and the rest can be from cpf?

Any one know?

Thanks!

[bepgof 20]

Resale, new completed or under construction = 5% cash, remaining 35% cash or cpf.

- Take note of cpf's MMS rule.

- For unit under construction - progressive payment mode, the % in various stages have changed due to loan's rule change, do take note.

- Resale (1% to exchange for OTP, 4% after exercise OTP)

- Stamp duty MUST BE paid in CASH first, then reimburse back from CPF OA (need to apply for)

- Agent's comm for resale. Buy directly from developers, no comm.

Slightly complicated for unit under construction( OTP, S&P, Deed of assignment, etc etc), loan disbursement amount varies at different stages.....Hope above clear your doubts.

Hi

Now that one need to fork out 40% for a second home loan, ie the loan can only be 60% of the purchase price. For the 40%, how much need to be in cash, and the rest can be from cpf?

Any one know?

Thanks!

[Misc100 2]

Resale, new completed or under construction = 5% cash, remaining 35% cash or cpf.

- Take note of cpf's MMS rule.

- For unit under construction - progressive payment mode, the % in various stages have changed due to loan's rule change, do take note.

- Resale (1% to exchange for OTP, 4% after exercise OTP)

- Stamp duty MUST BE paid in CASH first, then reimburse back from CPF OA (need to apply for)

- Agent's comm for resale. Buy directly from developers, no comm.

Slightly complicated for unit under construction( OTP, S&P, Deed of assignment, etc etc), loan disbursement amount varies at different stages.....Hope above clear your doubts.

Hey! Thanks a lot!

[MortgagePremier 0]

Hey! Thanks a lot!

For building under construction projects, the payment schedule is as followed AFTER the 20% down payment (inclusive of 5% option fee)

10%

10%

5%

5%

5%

5%

25% (TOP)

15% (CSC)

Kindly note the loan structure would firstly be CASH, followed by CPF and lastly BANK LOAN.

Feel free to speak to us on any housing loan related issues/queries.

[Reno145 0]

The cash is 10% minimum.

The CPF can be up to 30%.

Total downpayment is 40%.