How much do I need to pay out to buy a $2 million condo at age 45?

To buy a $2 million condo at age 45, here’s a breakdown of the minimum cash and CPF/outlay you need, assuming this is your first home loan and the loan tenure does not exceed 30 years (so that the LTV limit is 75%):

1. Booking Fee (Option Fee):
- 5% of $2,000,000 = $100,000 (Cash only)

2. Downpayment:
- Total downpayment required: 25% of $2,000,000 = $500,000
- Of this, 5% ($100,000) is already paid as booking fee (cash)
- The remaining 20% ($400,000) can be paid using CPF and/or cash

3. Buyer’s Stamp Duty (BSD):
- 1% of first $180,000 = $1,800
- 2% of next $180,000 = $3,600
- 3% of next $640,000 = $19,200
- 4% of remaining $1,000,000 = $40,000
- Total BSD = $64,600 (Payable by cash or CPF)

4. Legal Fees:
- Approximately $3,500 (Cash or CPF)

5. Valuation Fee:
- Approximately $400 (Cash or CPF)

Item	Amount	Payment Mode
Booking Fee	$100,000	Cash
Downpayment	$400,000	Cash/CPF
Buyer’s Stamp Duty	$64,600	Cash/CPF
Legal Fees	$3,500	Cash/CPF
Valuation Fee	$400	Cash/CPF

Minimum Cash Outlay:
- Booking Fee: $100,000 (cash)
- Part of the remaining downpayment (if you have enough CPF, the rest can be from CPF)
- Legal and valuation fees (can be paid by cash or CPF)
- BSD (can be paid by cash or CPF)

If you have sufficient CPF, the minimum cash you must pay is $100,000 (booking fee).
If you do not have enough CPF, you will need to top up the rest of the downpayment in cash.

Loan Amount:
- 75% of $2,000,000 = $1,500,000 (maximum loan)

Note:
This calculation assumes you are eligible for the maximum LTV (75%) and that your loan tenure plus age does not exceed 65. If your loan tenure is longer or you have existing home loans, the required cash/CPF outlay will be higher.