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Afternoon Mike,

Firstly, is your current unit paid using CPF? Did you set aside the required CPF minimum sum? Secondly, are both of you currently working? Lastly, are you looking at taking mortgage loan till age of 70?

Assuming that you have set aside your CPF minimum sum of $71k, currently still employed and able to get mortgage loan for 10 years, you will be eligible to purchase unit at around $650k. Your monthly installment would be around $1850 per month.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Mike,

Your information provided is insufficient for us to really make any recommendations to you as we risk giving you the wrong advises without having known sufficient information pertaining to your financial capacity.

I'd suggest that you take this conversation to a banker to understand your financial standing such that you are able to work out on the price range of purchase you are comfortable with financing. As my fellow colleague Mike has pointed out on the CPF minimum sum requirement, we will also need to know your current income level to see what are the available options.

If you need any contacts of bankers to talk to, perhaps you may drop me an email?

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More