AskGuru Q&A Community

Hi morning,

If you have an outstanding housing loan, the 2nd housing loan you can take is maximum 50% of purchase price, and it is likely for (65-57) 8 years tenure. For the final amount that can be borrowed, may I get my mortgage financing partners to speak to you to understand more? It is advisable to do so as they will be able to give you an In Principle Approval amount quickly by reviewing your income, credit and age profile. Might you also consider paying down the 1st housing loan fully, so you can stretch more for the next loan? (max 80% if you have no outstanding loan, based on MAS and TDSR requirements)

Aside from that, if you are a citizen, there will also be a 7% ABSD payable on the 2nd purchase price, on top of the usual 3% BSD payable.

Thanks and may I understand your requirements further so to value-add more. Hope to have this opportunity to work with you. Thanks and hope to speak soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Good afternoon landed buyer,

Do take note that if you will be subject to 7% additional buyer's stamp duty as a Singaporean and only eligible to take up to 50% bank loan for a max loan tenure of 30 years or retirement age of 65 years old.

Do let my banker to advise you on your in principle approval so you can gauge how much loan you can obtain.

Thus your initial outlay will be 60% of purchase price:

1) 25% cash downpayment
2) 25% CPF OA funds/ cash downpayment
3) estimated 3% buyer's stamp duty
4) 7% additional buyer's stamp duty

And if you have utilized CPF OA funds in your current property, you will have to set aside a minimum sum of $77.5k before you can use the excess for this purchase.

Hope my explanation helps!

If you need any assistance in your property purchase, feel free to contact me.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi, if possible pay up the loan of the condo so to eligible up to 80% loan of the landed. The other important part is the TDSR and the 7% additional buyer stamp duty. There may be way to work around for the ABSD and pledging for the loan. I am able to work out with you.

I am reachable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Dear sir/madam,

The best person to speak to is actually a banker to work out your finances. As much as we as a real estate salesperson know about the financial aspects for buyers, I do not feel that we are in a capacity to advise you that you will be able to make judgement since ultimately we are not the professionals in this field. Speak to a banker on the financial profiling and then we can take it on from there. My team is working on more than 200 landed homes for sale islandwide and can perhaps match you to the right unit. Get in touch with me for your househunting perhaps?

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

M.O.R.E Landed Dynamic Alliance
Home of *7772 Hotline
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Good day. You can use term loan, for borrow up to 75years old provided your income can support too.
It will be best for you to speak to a experience banker who can advise you to cash out your condo and understand the different scenarios. And I can assist you further from there.
I am contactable via 91442664  .
Best Regards,
Tricia Tan 65 91442664 
http://www.triciatan.myweb.sg Read More

Dear Sir/Mdm,

Just feel free to drop me a call at 92222389  for your real estate needs.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan 颜荣裕 | R021244C | Associate Team Director
ACTA (Full); PDCE (Singapore); MSc BIT (Middlesex); BBA (South Australia)
Hp/ 手提电话: (65)92222389 
Email/ 电子信址: sale@resales.sg
Skype: incomecare

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