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Budget: CPF: 200k, Cash: 100k. Single, earning 8.3k per month. No existing housing or car loan committments. Looking to buy 3-bed private property near East Coast for own stay(not investment). How much realisically can I afford? Assuming interest rates is at an all time low and expected to rise after 2014.
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2 Answers

YT Tan (陈永达)
Replied
Hi Home buyer,

Judging from the facts that you do not have any outstanding loan commitments, you will be able to loan up to 80% of the purchase price/ valuation.

20% downpayment will make up of 5% cash and 15% CPF. Let say that your $300k will make up of the 20% downpayment, you will be able to afford to purchase a unit up to $1.5M excluding all the stamp duty, legal fees and so on.

But to have a better idea of what is the realistic amount that you are able to afford, it will be better to speak to some of the bankers and from there onwards, they can advise you.

I have a team of hardworking bankers who have proven capable to my aid. If you need any assistance, feel free to contact me. I will introduce them to you.

Hope to hear from you soon!

Warmest Regards,
YT Tan
ECG Property
M: (+65) 9111 5171 
E: yt.lovelyhomes@gmail.com Read More
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Mike Lim
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Morning,

Without knowing your age and your liquidity comfort level, you should be able to work on units's around $800 to $900k, without overstretching.

FYI
Mike Lim
 96929209 
ERA Read More
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  • WO
    Replied
    Thanks for the advice Mike. I'm 35 and I agree with you. I personally think max $900k seems like a budget I can comfortably afford.

    Cheers!

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