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Good morning Winghan,

Estimated loan eligible based on your $6k income is $735k.

With your finances on hand, you should be able to afford a private property close to $1m if you are a Singaporean.

Care to share more about your requirements and preferred location?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
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Hi Winghan,

Your max loan eligible for private property would be 734k. But if you are buying resale HDB, that goes down to $359k due to different bank loan formula calculation.

So adding that plus your cash and cpf on hand, 600k purchase price is not really a stretch, and just about fits after factoring in both stamp duties and agent success fee of 1%+GST.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Hi Winghan,

I am assuming you are looking at resale HDB over private residential property. Given the numbers you have provided, it is estimated that your affordability is up to $479k range resale HDB, however, if you are looking at private residential property, you can be looking up to almost $980k property by estimation.

Monthly instalment will be around $1,800 for HDB and $3,300 for private residential property based on above scenarios estimated.

Hope it helps!

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi Winghan,

1) Using age of 35yrs old, 6k salary. Your estimated loan under MSR calculation is $359k with a 25 yrs loan tenure.
2) Buying a 600k resale will be subject to a buyer stamp duty of 12.6k, a mortgage stamp duty of $500, and legal fees of around 1k.
3) You will be left with 24.6k in cash.
4) Your monthly installment would be around 1.8k. After deducting your monthly CPF contribution of 1.2k. Your cash needed would be $600 per month for a loan tenure of 25 yrs.
5) The budget for the purchase is ok, but you also have to ask yourself whether this is acceptable for your monthly expense.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi Winghan,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it is possible. Based on the amount given by you, the targeted purchase price of the property seem just fine.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear Winghan,

Hi, I am Brendan!

I assume you are referring to purchasing a resale HDB. Your monthly mortgage payment is estimated to be around $1,800 per month. This can be fully paid by your CPF OA with leftovers and no cash involved.

Hence, in my opinion, purchasing a 600k resale HDB will be within your budget.

If you would like to understand more, pls contact me at 9754 5207  .
Or Whatsapp me by clicking this link: wa.me/6597545207 which will direct you to open Whatsapp on your mobile phone.

Thank you!
Brendan Bay,
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