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Happy new year, investors!

Do take note that rental income will not be taken into consideration for mortgage application, only your employment income will be.

If this property purchase will be your second property for both, you will be subject to 10% ABSD (higher of SC or SPR). If you decide to purchase solely as a Singaporean, the ABSD will be 7%.

Do bear in mind as well that if you have utilised CPF OA funds in your current property, you will have to set aside half of the minimum sum ($80.5k) in your CPF OA + SA first before you can use the excess OA funds in this purchase.

Hope my explanation helps!

If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!

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

Hi,

Yes you can co-apply for a mortgage loan, but the rental income will likely not be fully recognized, or can't be used to augment the income for a higher loan. Also, with her SPR status, the ABSD payable (if its your 2nd residential property) will be 10% instead of 7%.

Whether to include her name or just purchase on your sole name, depends on both your age, income and credit profile also. Please get in touch so we can find the most ideal approach to get your 2nd residential property, with costs minimized. Thanks and hope to value-add to your housing plans 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
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi
Basically since your wife is not working, the loan will be most likely based on you alone. It will be best to get a banker to get you a IPA first before we go into details of purchasing. I can get the bankers to assist you on this.
Looking forward to hear from you.
Tricia Tan 91442664  Read More

Afternoon,

Rental income are passive and will not be considered for mortgage assessment purpose. Hence it would be good to understand and work on your financial aspect before jumping into the upcoming purchase.

Do contact me further should you require addition assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,
Base on the information, there is no advantage to co-own with your wife. Because of the PR status, the ABSD is 5%.
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

Good evening buyers,

You can purchase as co-owners with you as the main applicant for loan application.

ABSD for the purchase will be 10%.

3rd property for SC: 10%
2nd property for SPR: 10%

No difference if you purchase with or without her.

Hope my explanation helps!

Is there anything that I assist you further?

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