I also like to know whats a comfortable loan I can get. Currently have about 90K CPF and about 60K Cash on hand
Lets get a banker to do a IPA for you first. As for geylang properties, it depends on which side of the properties are you looking at, as some will have difficulty getting loans. If you are looking at purely rental yield purposes, i can also propose some alternative selections to you as well.
You can reach me via 91442664 for a detailed discussion.
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To advise you on the estimated loan, I would need more of your details.
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.
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May I have more details to estimate your indicative loan? Thanks and hope to assist further.
Ivan Ng ERA ASAP
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Based on your current finances, you might be able to afford a $652k property based on the assumptions that you are able to obtain a max 80% bank loan, this is first property purchase and you are a singaporean. This figure might change if you can provide me with more information.
If this is your second property purchase, you will be subject to 7% additional buyer's stamp duty as a Singaporean.
Probably do let me banker advise you on your approval in principle first so you can gauge how much loan can you obtain.
Hope to hear from you soon!
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There could be restrictions in loan eligibility for projects in Geylang vicinity and even if bank does offer loans for such projects, it may not be full 80% loan. Given the restricted funds available in cash and CPF, your choices for investment could be pretty restricted. You may wish to seek alternative investments which allows you attractive returns. Recently there was an article about real estate crowdfunding, therefore your investment actions could be there. Do your due diligence before committing your funds.
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