Asked by JY
I am living with my parents in a 4-room HDB in Bedok. Average valuation of that block is about $350k to $370k. As our unit is very well taken care of, we are looking at possibly at least $380k (of cos depending on the valuation too).
Now, my question. We are looking at using the amount we sell for the current 4-room flat (estimated $380k)plus my cpf (estimated $130k) to buy a condo below the $900k region, which means taking buy price at $880k, I should be taking loan of ($880k - $380k - $130k = $370k). Or we top up another $70k cash, to loan $300k.
Base on the above scenario, how much should I be servicng in terms of montly loan (for $300k and for $370k)? I am 38 this year, and what is the maximum period I can loan?
Now, my question. We are looking at using the amount we sell for the current 4-room flat (estimated $380k)plus my cpf (estimated $130k) to buy a condo below the $900k region, which means taking buy price at $880k, I should be taking loan of ($880k - $380k - $130k = $370k). Or we top up another $70k cash, to loan $300k.
Base on the above scenario, how much should I be servicng in terms of montly loan (for $300k and for $370k)? I am 38 this year, and what is the maximum period I can loan?
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