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Hi, We are married sc, we wish to upgrade to private condo after selling our flat. We have no 140k cpf and 50k cash.My monthly income is 3.2k and my wife is self employed with annual income of 50k.We want to take up 80% bank loan and 30 years tenure as we are both below 35 years.Can we afford at least a new 3 bedder private condo or 3 bedder EC direct from developer?
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1 Answer

Carel Yong
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Hi Sir/Mdm, you may be eligible for up to 80% loan from the bank should you dispose of your current flat and have no loan on hand. However, due to new measures on total debt servicing ratio, it is advisable to get professional mortgage bankers to brief you through on your finances and the amount of loan you are eligible for. They will need to check through credit ratings and other liabilities if any. After which you will get an IPA(in principle approval) from them to start shopping for your dream property. There are affordable purchases for 3bedroom EC and 3bedroom private condos which I am working on. I will also brief you on the procedures and potential benefits of purchasing them. These choices can be better narrowed down after you have gotten in touch with bankers. I have a few reliable ones which I work with. Do contact me at 92273334  . Carel Yong, Propnex. Thanks. :) Read More
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