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I’m 22 and I would like to buy resale condo and rent it out. I have no savings and not much money. Would like to rent out to a tenant to cover up the payments. Where I rent out a price which they pay to cover up for the interest only loan and other prices. Which in the end I get a monthly net return. Will the bank loan me the money to pay for the down payment?
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4 Answers

Tan Pei Cheng (Pei)
Hi,

I can help you to do a financial assessment and determine what is the quantum you will be able to afford comfortably. With the quantum in mind then you can zoom down on the projects to purchase.

Please feel free to contact me so that I can gather more information and assist you further.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
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Robbie Chen Chee Howe
Hi,

The maximum you can loan for a resale condo is 75%. This means that you will need to have 25% as downpayment, out of which you will need to set aside minimum 5% downpayment of the property price in CASH, with the balance 20% from your CPF-OA.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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