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Hi Sir/Madam

I will be glad to assist
Appreciate if you can contact me at (65) 96608508 
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi,

1) You have to know that the mortgage assessments for HDB flats and private residential property are different.
2) You have to use MSR to understand how much you can loan when buying an HDB flat or a new EC.
3) You will have to use TDSR to find out how much you could loan with your current age and income.
4) Please refer to this link to get a better understanding of the MSR & TDSR:
https://www.mas.gov.sg/regulation/explainers/new-housing-loans/msr-and-tdsr-rules
5) You may make use of the free online calculator for MSR:
https://www.moneysmart.sg/home-loan/msr-calculator
6) You may make use of the free online calculator for TDSR:
https://www.moneysmart.sg/home-loan/tdsr-calculator
7) Next is to understand the components in setting your budget which are:
(a) Loan
(b) CPF OA
(c) Cash
8) For an HDB loan, the minimum down payment is 15%, whereas for the bank loan the minimum down payment is 25% of which 5% must be in cash.
9) After this you will be able to know how much resources you have on hand for purchase.
10) Do not over-commit on your budget, reserve ~3/4% for your buyer stamp duty and legal fees.
11) If you are still unsure it is best to speak to any real estate agent before committing to a purchase.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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