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Dear sir,

Currently we are staying in HDB five room flat and it has been fully paid.

We have intention to buy a private property for investment, but due to the new rules we are now confused.

My husband is now 51 years old and I am 49 years old. Our family gross income abt 10k. If I would like to take up a loan to buy propery, what is the loan amount we can borrow and how much cash downpayment we need to pay?

Including period of loan can we take.
Tks
Rgds
Sharine
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1 Answer

Mike Lim
Replied
Morning Sharine,

For 80% loan, your loan period should not exceed 14 to 15 years. If both of you have utilized CPF to pay for installment on your HDB unit, you need to fulfill the CPF minimum sum requirement. As to how much loan is eligible, it would be dependent on your credit record too. In general, if both of you have zero unsecured loan, bank should be able to get around $700k.

Do feel free to contact me if you require further assistance, as I do have reliable banker working closely with me.

Regards
Mike Lim
 96929209 
ERA

Do feel free to contact me if you require further assistance. Read More
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