Hi,
I can sense your urgency to start on a property as it is obvious that property will only moving upwards in Singapore even though with the cooling measures implemented.
It is getting more and more difficult for young generation to hop onto the fast train.
1) To begin with, due to your current residence status, you are not eligible to public housing, aka HDB. Your choice shall be limited to private property.
2) Your financial info is incomplete, thus can only do a approximation.
3) Let's assume your monthly income is around $4,500, the maximum loan you can receive according to TDSR is around $1M.
This is based on the assumption that you don't have any outstanding loan.
4) You have to approach bank for financial assistance in order to get a maximum of 75% loan. In other words, you have to fork out 25%.
5) The component of 25% comprises of 5% cash & 20% cash + CPF.
6) The highest value property you can get is $328k with existing funds on hand.
7) To be honest, you will get a good size if you are eligible for HDB. You will need to be ready for around $500k in order to get a 1 bedder.
You have 2 choices here, to apply to be citizen to be eligible for HDB or to increase your existing starting fund from $82 to around $125k.
Hope the above answer to your main concerns, but if there are more queries, 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
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