WHAT OUR CLIENTS SAY…
Frequently Asked Questions
The maximum loan to value (LTV) for your first private property in Singapore is 75% and the corresponding maximum tenure is 30 years. If you wish to extend your tenure up to the regulatory limit of 35 years, your LTV will then decrease to 55%.
The amount of CPF that can be used as the initial down payment will depend on the loan amount you qualify for. Assuming you qualify for the maximum loan amount of 75% of your purchase price and taking into account the mandatory 5% cash down payment required, the balance 20% can then be made with your CPF funds in your Ordinary Account (OA).
A bank provided property valuation determines the maximum housing loan amount for both a refinancing and new property purchase. While looking at recent resale transactions through publicly available sources can provide an indication, a bank indicated property valuation is the most accurate.
Our partner conveyancing law firms provide discounted fees which include CPF fees, mortgage stamping, stamp fees and GST. Legal fees range from $2,00 to $2,300 for a new private property purchase.