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Hello,

I would like to inquire on loan application. My husband and I would like to buy a private property, this will be the first one. However he is currently on debt management program (DMP). We have combined cpf of 300k and 200k in cash. in this situation, can we still get a loan from the bank?
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7 Answers

Mike Lim
Replied
Morning,

As your spouse is currently on the program, the assessment on loan will be based mostly on your income status. It would be tough for your spouse to get required loan amount for the purchase.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Ng Teck Chuan
Replied
Hi buyer,

It's likely that the DMP would affect his credit rating and loan eligibility, but it'd be good if you can let a banker assess it for you and give you some professional advice.

Feel free to contact me, and I'd refer some reliable bankers to you.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More
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Ivan Ng
Replied
Hi,

It will be good to meet up with a bank mortgage specialist to understand how much loan you can attain. Thanks and hope to assist further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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Wilson Leong
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if you want we can do a on line application with immediate result.

Regards
wilson
 96305577 
wilsonleong61@gmail.com Read More
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GAN ENG JOO ONASSIS
Replied
Hi,

No worries, the housing loan professional will be able to assist you with the housing loan. The only concern will be the housing loan amount that will be affected due to the debt management program.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com / sgagent.com
Skype: incomecare

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YT Tan (陈永达)
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Good evening buyer,

If you intend to purchase a property jointly with your spouse, your loan quantum most likely will be affected by your husband's credit rating.

Usually after one year of being debt free, credit rating will be back to normal.

Perhaps you should consider to purchase solely under your name which you should be able to obtain max 80% bank loan.

Hope my explanation helps!

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YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
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Propnex Realty Pte Ltd
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Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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Edvan Lee CK 李钊昆
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