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US

2883010

No tags specified

REF:
Residential

- Cost of ownership
- stamp duty (provided)
- Buyer's stamp duty
- For properties above $360,000
- Take (AMT X 3%)-$5400

- Take (AMT X 3%)-$5400

- For properties above $360,000
- Additional Buyer's stamp duty
- For everyone except 1st time Singaporeans

- For everyone except 1st time Singaporeans
- Seller's Stamp duty
- Industrial
- Residential
- sold w/in 1 year
- means yr 0 to yr 1

- means yr 0 to yr 1

- sold w/in 1 year

- Industrial
- *Always use the higher of purchase price or valuation

- Buyer's stamp duty
- NOT IN CT
- Purchase Price
- GST
- Property Tax
- Legal and
Conveyance
Fees
- Agency
Fee/Commission
- Valuation
- Legal
Requisitions
- Operating costs
- AKA Conservacy
fee in HDB

- AKA Conservacy
fee in HDB

- Purchase Price

- stamp duty (provided)
- Calculations :)
- HDB Concessionary Loans
- LTV
- 90%
- of mkt value or vln
- whichever lower

- whichever lower

- of mkt value or vln

- 90%
- Loan interest
- 2.6%/annum
- 0.0021667/mth

- 0.0021667/mth

- 2.6%/annum
- MSR
- installment cannot exceed 30% of buyer's income

- installment cannot exceed 30% of buyer's income
- Maximum repayment period
- shorter of
- a) 25 yrs
- b) 65yrs - average age of buyers
- if pty <60 yrs
- c) balance lease - 20yrs

- c) balance lease - 20yrs

- a) 25 yrs

- shorter of
- Maximum Loan Quantum
- Lowest of
- A) Loan ceiling = LTV X VL
- 90% x VL

- 90% x VL
- B) VL - CPF in OA - CPF Grants - Half of proceeds*
- If half of proceeds <$25,000
- use
- Total proceeds -$25,000

- Total proceeds -$25,000

- use

- If half of proceeds <$25,000
- c) Loan required
- is PVOA
- i
- 0.0021667/mth

- 0.0021667/mth
- N
- Maximum repayment period (in mths)

- Maximum repayment period (in mths)
- p
- MSR

- MSR

- i

- is PVOA

- A) Loan ceiling = LTV X VL
- aka principal sum

- Lowest of

- LTV
- Residential Housing/Bank Loans
- LTV
- see table provided
- BTW
- AVG age is income weighted
- That means that eg.
Alex (27 yrs $2000) and
Bec (24 yrs $4000) The
age will be calculated as
[(2000/6000)x27yrs] +
[(4000/6000)x24yrs] =
25 years

- That means that eg.
Alex (27 yrs $2000) and
Bec (24 yrs $4000) The
age will be calculated as
[(2000/6000)x27yrs] +
[(4000/6000)x24yrs] =
25 years

- AVG age is income weighted

- BTW

- see table provided
- Loan interest
- provided in Q
- BUT
- when calculating
MAX loan
quantum, use
3.5% or provided
%, whichever is
higher

- when calculating
MAX loan
quantum, use
3.5% or provided
%, whichever is
higher

- BUT

- provided in Q
- TDSR
- total debt servicing ratio
- BY
MAS

- BY
MAS
- 60% of buyer's income
- IMPORTANT
features
- income weighted avg age
- medium term interest
rate (calc max loan)
- For residential
- 3.5% or higher

- 3.5% or higher
- For non-resi
- 4.5 % or higher

- 4.5 % or higher

- For residential
- FI to discount 30% of
buyer variable income
- Bank loan for HDB
- MSR of 30% to be CAPPED
- don't enjoy TDSR for HDB bank loan

- don't enjoy TDSR for HDB bank loan

- MSR of 30% to be CAPPED

- income weighted avg age

- total debt servicing ratio
- Maximum
repayment
period
- Absolute at 35 years
- loan period will be provided in Q :)

- Absolute at 35 years
- may be
asked
- Amount that must
be paid in cash?
- COV + MCP

- COV + MCP
- Loan quantum
- Principal Amt
aka PVAO

- Principal Amt
aka PVAO
- Monthly installment
- FVAO / N

- FVAO / N
- Max loan quantum
- similar to
HDB loan
A) and C)

- similar to
HDB loan
A) and C)
- Borrowing costs
- FVOA - PVOA

- FVOA - PVOA
- Outstanding loan
- PVOA of
remaining
years
- PVOA but
n =
remaining
yrs

- PVOA but
n =
remaining
yrs

- PVOA of
remaining
years
- Debt service ratio (%)
- borrowing cost/loan amt

- borrowing cost/loan amt

- Amount that must
be paid in cash?

- LTV

- HDB Concessionary Loans
- Terminology
- Valuation Limit (VL)
- The lower of the valuation and the purchase price
Annotations:

- Please note that the purchase price MAY be lower at times

- The lower of the valuation and the purchase price
- Cash over Valuation (COV)
- Purchase price - valuation limit
- Amount to be paid in cash when purchasing

- Purchase price - valuation limit
- Minimum Cash Payment (MCP)
- Fixed % to pay in cash
- not covered by bank loan

- not covered by bank loan
- TABLE NOT IN EXAM

- Fixed % to pay in cash
- Loan Ceiling
- LTV x VL
- Maximum amt allowed to borrow
- Table provided in exam

- LTV x VL

- Valuation Limit (VL)
- 6 Functions of $1
- For REF
- We need to know 4
- PVOA
- Find PV given annuity
- can work backwards to find annuity given pv

- can work backwards to find annuity given pv

- Find PV given annuity
- FVOA
- Find FV given Annuity

- Find FV given Annuity
- FV = P x (1 + i)^n
- To find when installments at end of month
- PVAD
- PVOA x (1+i)

- PVOA x (1+i)
- FVAD
- FVOA x (1+i)

- FVOA x (1+i)

- PVAD

- PVOA

- We need to know 4

- For REF
- FUN
FACT: No
theory Q
in EXAMS!!

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