3 Answers

Robbie Chen Chee Howe
Hi,

Apart from the standard TDSR requirements, you will have to take note of the LTV (Loan-to-Value) requirements.

If your condo is your second mortage loan, you can only borrow up to max 50% of the purchase price/valuation price, whichever is lower.The rest of the 50% will be the downpayment, out of which 25% has to be in Cash.

If you have fully paid your HDB, you can loan up to max of 80%, with the 20% downpayment (5% Cash, 15% CPF), subjected to your CPF meeting the half-minimum sum.

Do take note of ABSD for second property too, provided it remains in place 2 years later.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty
Ivan Ng
Hi,

With current regulations, the max loan attainable is dependent on the number of outstanding mortgage loans at hand. If its 1 home loan outstanding, the 2nd loan will capped at max 50%. If theres no home loan outstanding, max loan will be 80%.

Yes any debt obligations, including home loan installments, are factored into the TDSR calculations.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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