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Condo Questions

Asked by Anonymous 12 Jan 2016

Hi Gurus,

I am

- SPR
- having around $125K in cpf
- in hand cash about 80k.
- annual income is around $140K basic
- Wife SPR but not working
- No other loans -($0 loan as of now )

I know it wont be sufficient for initial 28%, but how can I buy property of around 1M to 1.2M with all above constraints.

Thanks

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4 Answers

Previously Asked Questions

Ivan Ng · Answer 1 · 2016-01-12T13:18:06+08:00

Ivan Ng

Replied 12 Jan 2016

Hi,

There's not much options available other than getting a goodwill loan from your parents or loved ones. Taking a personal loan is also feasible, but it will affect the maximum mortgage loan you can take.

You may wish to open up your options to other locations. There's still a lot of value-buys with good growth potential, especially future regional centres. 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
Contact: (+65) 97432395
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
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(Client's Testimonials) Read More

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AK

Amit Kadam

Replied 12 Jan 2016

If my monthly salary is 11k per month then with MAS approved TDSR, I am eligible for $6600 per month loan.

For 1M loan , EMI is around $3000, cant I take a loan of 100K for 5 yrs tenure to fill the gap?

YT Tan (陈永达) · Answer 2 · 2016-01-12T16:13:31+08:00

YT Tan (陈永达)

Replied 12 Jan 2016

Good afternoon buyer,

I did have buyers who took up a personal loan to finance their initial outlay as it doesnt affect their 80% bank loan.

I will discourage it because as interest rates are usually higher but nevertheless it's your call. =)

Probably you can speak to my banker so he can advise you how much loan can you obtain then from there, we can try to work things out?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

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CK Ang · Answer 3 · 2016-01-12T16:21:46+08:00

CK Ang

Replied 12 Jan 2016

Hi,
With the CPF and cash for the 28% down payment and stamp duty, you can get a property at around 700K. I had recently assist my client, which is PR to short list a list of property at the price range. Please drop me an email for me to share the listing.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808
res.ckang@gmail.com Read More