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I am 46 , wife 44 .
HDB flat outstanding bank loan – 90k
Existing Combined CPF Ordinary Account - $100k ( more than cover the existing loan )
Combined Income - $11k per mth
Flat Purchase cost - $340k estimate selling price - $420k

1. Should I settle the outstanding loan with my CPF OA first before getting a private property ?

2. How much loan can I apply roughly for my private property purchase base on age and income ?

3. What are the Cash upfront if I buy a property value of $800,000 now ?

Thanks.
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1 Answer

Geryl Lim
Replied
Hi Alex,

The loan tenure and amount has been tabulated in a table format. Are you able to provide me your email address such that I can send it to you. With the table format, then you will be able to work out on the cash component for your purchase excluding the BSD, ABSD and miscellaneous fees that maybe applicable. Also for the loan quantum you are eligible, a banker will be the best person you can speak to, especially with the recent policy changes by MAS for home loan.

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
Facebook: https://www.facebook.com/propertyblogshop

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