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Good afternoon,

Yes both of you are still able to purchase another private property.

Why not let my bankers advise you on your in principle approval so you can gauge how much loan both of you can obtain?

Even though you don't have any existing mortgage, the bank will take your husband's outstanding mortgage in consideration, thus both of you might only able to loan up to 50% bank loan thus 50% downpayment will be 25% cash and 25% CPF downpayment (cash if shortfall).

Do take note that this purchase will be your husband's second property, thus both of you will be subject to additional buyer's stamp duty of 7% (both SC) or 10% (if one of you is a SPR).

If your husband got utilize any CPF OA funds in the landed property, he will have to put aside a minimum sum of $77.5k in OA + SA before he can use the excess OA funds in this purchase.

Hope to hear from you soon! So my banker can advise you on IPA.

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

Afternoon,

Assuming that your spouse is earning at $90k per year, he would have likely stretched to his max with the mortgage loan at $5 mil. Under today's TDSR, I would deem that only you will be allowed to get mortgage loan for the upcoming purchase, unless your spouse is willing to use the landed property as collateral.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More