In the midst of buying a new home? Do you know the the maximum loan amount you can take? what are all the hidden costs? stamp duties, legal fees, mortgage stamping fees, agent fees, caveats fees?
First time buyers can get a maximum loan of 80% of the purchase price or the valuation which ever is lower, so make sure that your valuation matches your purchase price, you do not want to be caught in the situation where you have to fork out extra cash if the valuation do not meet the purchase price.
Thre are a few credit criteria to be met if you want to take up 80%, It must be your first property, Singapore government initiated to prevent the property market from crashing. Second property onwards the maximum loan is 60%.
There are ways to get 80% loan for your other properties, to find out more please contact us.
Call us or email us now and we will slowly explain to you the whole procedure of the purchase.