6 Answers

Hi, before I can advise you properly, I will need to know your current income before I can compute the loan amount you can get, also do note that your LTV for second property will be at 55% which is very limited and quite hard for you to get a decent landed property . Perhaps you can contact me or provide me with more information such as income and existing loan obligations so I can advise better .

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

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Landon Chew
97 39 60 40
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  • Landon Chew
    Assuming that your condo is sell at $2.4m with outstanding loan of $1.1m, The sales proceed will go to about $950k + $300k CPF ( I assumed that your CPF refund refers to CPF amount used as well as interest accrued).

    With a gross income of $25k, the maximum loan amount that you can get is around $2.6mil.

    So combining these two factors, The max price that you can afford is around $4.6mil if you sell your condo, which can get you a decent landed property.

    To calculate the pricing if you do not sell your condo will require you to provide the monthly mortgage payment amount, however you do incur ABSD as well on the purchase, so there won't be any landed property available at that price range, at max another condo
  • N
    Including bonuses, gross monthly is $25k.
Will require your income numbers as well to work out on your probable loan numbers. If you are looking at keeping your existing condo, it is quite unlikely you can look into purchasing a landed property. Perhaps a smaller condo as an investment could be ok. I have over 100 landed listings in my inventory in different parts of Singapore, perhaps there could be some that is of your interest. Let's work closely on your upgrade :D

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Income Needed for Loan Calculation: We can't determine the maximum loan amount for a landed property without knowing your income.
Limited Borrowing Power (Second Property): The Loan-To-Value (LTV) limit for a second property is 55%. This might restrict financing options for high-priced landed properties.
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Hi,

To find out the max price, it depends on how much loan you are eligible for the next property, and that will in turn depend on age, gross monthly income, monthly installments obligation. Assuming selling at $2.4mil, after redeeming the bank loan, the cpf + cash sale proceeds will be approx $1.245mil. This plus $700k cash on hand will be approx $1.945mil funds on hand for down payment.

Based on $5mil landed purchase, the down payment + stamp duties will be approx $1.5mil. So if $3.5mil loan is possible, this will be a ballpark figure to work with.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, perhaps I could get my mortgage broker to contact you and let’s work out on the loan portion?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Hi, appreciate your sharing
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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