AskGuru Q&A Community

Good afternoon Josepth, Do get in touch with me so I can ask my banker to advise you on your in principle approval. With this IPA, both you and your sister will have a better idea how much loan both of you can obtain. As both of you don't have any outstanding loan, you should be able to loan up to 80% (still subject to 60% total debt servicing ratio) with max loan tenure of 30 years or retirement age of 65 years old. If both of you are Singaporean citizens and with $460k CPF and cash, you all should be able to afford a $2M property provided you can obtain a 80% loan. Hope to hear from you soon so I can help both of you with your investment portfolio! Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

Hi Josepth, before you begin hunting for your unit, it is best to find out how much loan you qualify for. Any real estate salesperson will be able to introduce you a banker or you can contact your own banker, if you have want. Once you have the IPA, you can begin hunting for an unit within your means. Hope this helps. Read More

Hi Joseph, due to the total debt servicing ratio (TDSR) rule, typically bank will check upon your credit worthiness, other loans, weighted average of the combined fixed income (variable income will be recognized at 70%), loan tenure and a 3.5% interest rate is used to calculate an in-principle-approval loan amount. Besides the rental yield, do also consider capital appreciation. Therefore as my fellow RES have all advise you to seek a banker for your IPA first and then we could assist you to find your dream house. Regards Josef 94505033  josefteo.kf@gmail.com Read More

Real Case Study: Riverbank or Rivertrees, @ a quantum of $1M will actually give you a better rental returns compared to a resale condo @ Florida @ $1.1M. Although RB and RT has a smaller area, the rental base price is there. And if you take a Dual Key option, you are looking at a rental yield more than 4%. And Florida, which is a 99 years, will face difficulties when you sell it 10 years later, given a fact that it is already 18 years old. (For properties with less than 60 years lease, there are restrictions for CPF usage). For this case, the New Launch would seem to be a more viable option. There are many factors to consider and its not necessary true that resale condos are not preferred. Conditions depending on buyers and their requirements. I hope this is useful. Cheers. Name: Ken Tan. Website: property360.sg Read More