I have 100K+ outstanding mortgage loan(from the bank) for my current 3rm HDB flat ,which I am paying with CPF( S$1000/- per month). I would like to buy 2nd property (condo/private apartment) most probably 2bedroom with freehold or lease hold type for investment purpose. I prefer completed project most likely from resale market with/without tenant .
I do not have CPF to buy another one. I have 100K+ cash in hand and I will be paying cash for downpayment . Household combined monthly income is S$5800/- and annual income is about S$79K. I am 36 yrs old and my spouse is 43 . No other personal loan.
I have a few questions to ask
1. What is the amount of purchase price that I should consider to buy?
2. Is there any flat within this budget
3. What is the maximum loan amount that I can borrow from the bank?
4. Should I choose the property of 40 yrs age with 99 yrs lease hold? If yes then, will the bank lend me the mortgage loan amount that I want?