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March 30, 2013 By admin

New measure for property home loan

Increase of Seller Stamp Duty (SSD):

If property is sold within 1st year, the SSD = 16% of selling price.
If property is sold within 2nd year, the SSD = 12% of selling price.
If property is sold within 3rd year, the SSD = 8% of selling price.
If property is sold within 4th year, the SSD = 4% of selling price.

Higher Cash upfront for 2nd home loan:

Usually, the cash upfront needed for property purchase is at 5%. However, the new ruling state that for 2nd property loan, the cash upfront will increase to 10%.

2nd home loan and onwards capped at 60%:

Loan Structure for 2nd home loan and onwards
1st 10% = Cash only
2nd 30% = Cash or CPF
Home loan = Capped at 60%

Filed Under: HDB, Latest News, Private Property, Uncompleted Property

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