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Hi, I am a 33 years old single SPR and looking to buy a private property for self stay. My fix monthly income around $5300, with allowance and bonus is around $75,000 per annum. I would like to know how much i can borrow for the housing loan. I tried using some online calculator from a couple different banks but the result differ quite alot between some of the banks. Below are some details in short,

Residency Status: SPR
DOB: 1981
Fix Monthly Income: $5300
Annual Income: around $75000
Existing Property in Singapore: 0
Existing Property in Malaysia: 2 (monthly commitments $1200)
Other commitments: 0

So, base on the above, can the property guru advice how much will i be able to borrow from the bank to buy the private property?
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4 Answers

Hi, the estimated loan quantum is around 500K. Please take note that the ABSD is 5%. Please drop me an email for me to assist and advise you more details.

I can be contactable at my mobile or email.

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

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to very comprehensively chart out your financial calculations flow and for us to explore the available options and alternative.

Rest assured, I will walk you through the entire process- assisting you all the way from finding the perfect property to negotiating for the best price to post deal paperwork, to establishing financial calculations and ascertaining risks. Furthermore, since you are not liable to pay any agent fees, why not let me shoulder the stress of the technical aspects of your purchase while you savor the process!

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D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

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YT Tan (陈永达)
Good evening buyer,

the best way will be to let my banker advise you on your formal in principle approval. It's free of charge as well.

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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Good day and thank you for your query,

Please find the following Estimated Loan Affordability Summary for your reference.

Average Monthly Income including 70% Cut of Allowances/Bonus: $6,250
*Rental income derived from Malaysian properties with percentage cut may be declared to increase your monthly income)
60% TDSR: $6,250 x .6 = $3,750
Available Income for Mortgage Servicing: $3,750 - $1,200 (Mortgage Commitment) = $2,550

Est. Max Loan based on 30 years Tenure & 2% Ave. Interest: $689,000
Est. Max Property Value: $861,000
Est. Cash/CPF Required: $300,000 of which est. $87,000 must be in Cash
*Lower Cash and/or CPF value will proportionately decrease your buying affordability

Kindly consult your trusted banker for In Principle Approval (IPA) before making any commitment. Should you require recommendation for reliable bankers I would gladly assist. You may like to know that IPA can be requested via email and/or phone with all supporting documents within 2-3 working days.

As we do not get prompted when you respond here, kindly contact me directly should you require clarification and have additional query.

Thank you and have a pleasant weekend ahead.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 822 50 212
Email: karrien.realty@yahoo.com

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