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Asked by Azzah 5 Jan 2012

Hi,
My mum would like to buy a resale 3 bedroom around Eunos Crescent. I am helping her with the finance as she is over 70 years old and would not be able to borrow. How can I do that for ger please?

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Mike Lim · Answer 1 · 2012-01-05T11:32:33+08:00

Mike Lim

Replied 5 Jan 2012

Morning,

With your situation, you will have to be the borrower and service the monthly installment by cash, as your mum's CPF account should have being closed. As to how much you can borrow, it would depend on your credit report and income status. If you already holding onto one mortgage loan, that would also affect the amount of loan eligible to you.

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Mike Lim
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