Eco Sanctuary Home Loan & Financing Guide: Your Complete Buying Blueprint
Financing a property at Eco Sanctuary requires understanding your borrowing capacity, down payment obligations, and available CPF options—and Homejourney is here to guide you through every step. Located at 61-65 Chestnut Avenue in District 23, this 99-year leasehold condominium offers diverse unit types ranging from 1-bedroom to 3-bedroom layouts, with current market prices ranging from S$1,428 to S$1,931 per square foot.[2] Whether you're a first-time buyer or experienced investor, this financing guide will help you determine affordability and make confident decisions about purchasing at Eco Sanctuary.
Understanding Eco Sanctuary's Current Market Pricing
Before calculating your loan requirements, it's essential to understand current pricing at Eco Sanctuary. Based on recent transaction data from the past 12 months, sale prices range from S$1,428 to S$1,736 per square foot, with an average of S$1,644 psf.[3] For a typical 3-bedroom unit (approximately 1,000-1,100 sqft), you can expect total prices between S$1.43 million and S$1.91 million, depending on unit condition, floor level, and specific location within the development.
The development comprises 483 residential units across multiple blocks, with a mix of 1-bedroom, 2-bedroom, and 3-bedroom configurations.[1] Most buyers at Eco Sanctuary target 2-bedroom and 3-bedroom units, which offer excellent value for families and investors seeking rental income. Current listings show strong market activity, with units regularly transacting in the S$1.5 million to S$1.8 million range.
To explore current available units and their specific pricing, browse all properties for sale at Eco Sanctuary on Homejourney, where you can filter by bedroom count, price range, and unit size to find options matching your budget.
Down Payment Requirements & Initial Capital Needed
The first critical step in financing your Eco Sanctuary purchase is determining your down payment. Singapore's banking regulations typically require a minimum down payment of 5% for first-time buyers and 10-20% for subsequent property purchases. For a S$1.6 million unit at Eco Sanctuary, this translates to S$80,000-S$320,000 in upfront capital before considering Additional Buyer's Stamp Duty (ABSD).
Down payment breakdown for typical Eco Sanctuary purchases:
- First-time buyer, S$1.6M unit: 5% down = S$80,000 + legal fees (S$3,000-S$5,000)
- Second property, S$1.6M unit: 10% down = S$160,000 + legal fees
- Third property onwards, S$1.6M unit: 15-20% down = S$240,000-S$320,000 + legal fees
Beyond the down payment, you'll also need to budget for stamp duty, legal fees, and survey costs. Total initial outlay typically ranges from 8-12% of the purchase price. Homejourney's transparent approach ensures you understand every cost before committing—we believe informed buyers make better decisions and experience fewer surprises during the purchase process.
Estimated Monthly Loan Repayment Amounts
Understanding your monthly mortgage obligation is crucial for budgeting. Based on current market prices at Eco Sanctuary and typical bank loan terms, here are realistic monthly repayment estimates for different unit types and down payment scenarios:
2-Bedroom Unit (approximately 900 sqft, S$1.48M average price):
- With 5% down payment (S$74,000): Monthly repayment ≈ S$7,200-S$7,800 (25-year tenure)
- With 10% down payment (S$148,000): Monthly repayment ≈ S$6,600-S$7,200 (25-year tenure)
- With 20% down payment (S$296,000): Monthly repayment ≈ S$5,400-S$6,000 (25-year tenure)
3-Bedroom Unit (approximately 1,100 sqft, S$1.81M average price):
- With 5% down payment (S$90,500): Monthly repayment ≈ S$8,800-S$9,600 (25-year tenure)
- With 10% down payment (S$181,000): Monthly repayment ≈ S$8,000-S$8,800 (25-year tenure)
- With 20% down payment (S$362,000): Monthly repayment ≈ S$6,600-S$7,200 (25-year tenure)
These estimates assume current mortgage rates of approximately 3.5-4.0% per annum. Actual rates vary by bank and your credit profile. Homejourney recommends comparing rates across multiple lenders—check current bank rates and calculate your exact affordability using our mortgage calculator to determine the precise monthly commitment for your specific scenario.
CPF Usage: Maximizing Your Purchasing Power
Most Singaporean buyers use Central Provident Fund (CPF) savings to finance property purchases, which significantly reduces the cash down payment required. At Eco Sanctuary, you can use CPF from your Ordinary Account (OA) to pay for the down payment, stamp duty, legal fees, and monthly mortgage installments.
Key CPF guidelines for Eco Sanctuary purchases:
- You can use CPF OA funds for the down payment, reducing cash outlay substantially
- Monthly mortgage payments can be directly deducted from your CPF OA, preserving cash flow
- CPF withdrawal limits apply based on your age and the property's value
- You must retain a minimum CPF balance (currently S$20,000 in OA) after withdrawal
- For a S$1.6M unit, most buyers can cover 50-70% of the purchase price using CPF
For example, a buyer with S$250,000 in CPF OA savings purchasing a S$1.6M unit could potentially use S$150,000 for down payment and fees, reducing cash requirements to approximately S$30,000-S$50,000. This flexibility makes Eco Sanctuary accessible to more buyers than they initially realize. We strongly recommend consulting with a CPF advisor or your bank to understand your specific withdrawal entitlements.
Additional Buyer's Stamp Duty (ABSD) Considerations
ABSD is a critical cost factor for many Eco Sanctuary buyers, particularly investors and those purchasing second properties. Understanding your ABSD liability ensures no financial surprises during the transaction.
ABSD rates for Eco Sanctuary (as of 2026):
- First-time Singapore citizen buyers: 0% ABSD
- Second property (Singapore citizen): 5% ABSD on purchase price
- Third property onwards (Singapore citizen): 10% ABSD on purchase price
- Singapore Permanent Residents: 5% ABSD on first property, 10% on subsequent
- Foreign buyers: 20% ABSD on purchase price
For a S$1.6M unit, ABSD ranges from S$0 (first-time buyers) to S$320,000 (foreign investors). This substantial cost significantly impacts total financing requirements. Homejourney's commitment to transparency means we ensure you understand these obligations upfront, allowing you to plan accordingly and avoid budget overruns.
If you're purchasing as an investor or this is your second property, factor ABSD into your total financing needs. Many buyers adjust their down payment or loan amount to accommodate ABSD costs.
Loan-to-Value (LTV) Ratios & Bank Requirements
Singapore banks typically offer LTV ratios of 75-80% for residential properties, meaning you can borrow up to 75-80% of the property's purchase price. For Eco Sanctuary, most banks will lend up to S$1.2 million-S$1.28 million for a S$1.6 million purchase, requiring you to cover the remaining amount through down payment and other sources.
Banks assess your debt servicing ratio (DSR), typically capping total monthly debt obligations at 60% of gross monthly income. For a S$8,000 monthly mortgage payment, you'll need gross monthly income of approximately S$13,300 to meet bank requirements. This is a crucial affordability checkpoint—don't overextend beyond your comfortable debt servicing capacity.
Different banks have varying assessment criteria. Some offer more favorable terms for first-time buyers, while others provide better rates for investors. Comparing options across multiple lenders can save you thousands in interest over your loan tenure.
Investment Financing: Special Considerations for Investors
Investors purchasing Eco Sanctuary units for rental income face additional financing considerations. Banks typically offer lower LTV ratios (70-75%) for investment properties and assess loan viability based on expected rental income, not just your personal income.
Eco Sanctuary's current rental yield sits at approximately 3.5%, meaning a S$1.6M unit generates roughly S$56,000 annually in rental income (S$4,667 monthly).[3] Banks will typically accept 70-80% of this rental income toward your debt servicing ratio, providing additional borrowing capacity for investors.
For investors, the financing equation looks different: monthly mortgage (S$7,500) minus expected rental income (S$4,667) leaves your personal cash obligation at approximately S$2,833 monthly. This makes investment properties at Eco Sanctuary particularly attractive for cash-flow conscious investors.
Loan Tenure & Interest Rate Options
Most Eco Sanctuary buyers opt for 25-30 year mortgage tenures, balancing monthly affordability with total interest paid. Shorter tenures (15-20 years) reduce total interest costs but increase monthly obligations. Longer tenures (30+ years) minimize monthly payments but extend your debt commitment.
Interest rate comparison for S$1.28M loan (75% LTV on S$1.6M unit):
- 3.5% fixed rate, 25 years: Monthly payment ≈ S$6,200
- 3.75% fixed rate, 25 years: Monthly payment ≈ S$6,350
- 3.5% fixed rate, 30 years: Monthly payment ≈ S$5,700
- Floating rate (current ≈ 3.5%): Monthly payment varies with rate changes
Fixed-rate mortgages provide payment certainty, while floating rates typically offer lower initial rates but carry refinancing risk. Most first-time Eco Sanctuary buyers choose fixed rates for predictability and peace of mind.
Step-by-Step Financing Process for Eco Sanctuary Buyers
Step 1: Assess Your Financial Readiness
Calculate your available CPF, liquid savings, and monthly income. Determine your comfortable monthly mortgage obligation (typically 30-40% of gross income for housing). This self-assessment prevents overextending financially.
Step 2: Get Pre-Approval from Banks
Contact 2-3 banks for pre-approval letters showing your maximum borrowing capacity. This typically takes 3-5 working days and involves submitting income documentation and credit checks. Pre-approval strengthens your negotiating position when making offers.
Step 3: Identify Your Target Unit
Browse available units at Eco Sanctuary on Homejourney, filtering by bedroom count, price range, and floor preferences. Our platform displays verified listings with complete transparency, helping you find units matching your budget and requirements.
Step 4: Make an Offer & Negotiate
Once you've identified a unit, work with an agent to submit an offer. Eco Sanctuary's active market means negotiation room exists, particularly for units requiring renovation or on higher floors.
Step 5: Finalize Mortgage Terms
After offer acceptance, lock in your mortgage terms with your chosen bank. Provide complete financial documentation and allow 7-10 days for final loan approval. Confirm your exact monthly payment, tenure, and interest rate.
Step 6: Complete Legal & Administrative Requirements
Your lawyer will handle conveyancing, stamp duty payment, and property registration. This typically takes 8-12 weeks and requires your involvement for document signing and CPF withdrawal applications.
Homejourney's Commitment to Your Financing Safety
At Homejourney, we understand that property financing represents the largest financial commitment most people make. Our platform prioritizes your safety and trustworthiness through verified information, transparent pricing data, and educational resources. We've compiled this comprehensive financing guide specifically for Eco Sanctuary to ensure you make informed decisions grounded in accurate, current data.
We actively listen to buyer feedback and continuously improve our resources to address real questions and concerns. When you use Homejourney to research Eco Sanctuary financing, you're accessing information verified for accuracy and updated regularly to reflect market changes. This commitment to transparency and user safety distinguishes Homejourney as Singapore's most trusted property platform.
