Asked by Nasrul Ekram
Hi,
I am seeking to buy a condominium (penthouse) in the future, my dream house. And before I do so, I'd like to plan adequately and be fully prepared for the purchase and servicing the loan.
Ideally, can you advice me, based on current prices, should I purchase a new condo unit in say, Town area, what kind of downpayment do I have to lay-down and usually what kind of loan I might need to take up? The options of the term (25 yrs, 30 yrs?)
On top of that, a condominium in that district would definitely have a rather high monthly loan to repay. In your own experience, how much of a person's income should the loan make up?
Do you have specific literature to recommend that I can turn to help me plan buying my new home and fully understand what it takes to purchase a home. I aim to be prepared before buying and faced with minimal financial obstacles.
I am seeking to buy a condominium (penthouse) in the future, my dream house. And before I do so, I'd like to plan adequately and be fully prepared for the purchase and servicing the loan.
Ideally, can you advice me, based on current prices, should I purchase a new condo unit in say, Town area, what kind of downpayment do I have to lay-down and usually what kind of loan I might need to take up? The options of the term (25 yrs, 30 yrs?)
On top of that, a condominium in that district would definitely have a rather high monthly loan to repay. In your own experience, how much of a person's income should the loan make up?
Do you have specific literature to recommend that I can turn to help me plan buying my new home and fully understand what it takes to purchase a home. I aim to be prepared before buying and faced with minimal financial obstacles.
541 views
