To answer your question on whether you can buy a unit at Chestervale, we have to first understand how much loan you'd be able to take.
Besides the monthly income of you and your wife, there are also alot other inputs that a bank need to calculate how much loan you can draw.
Eg Age: the loan amount a 25 years old couple can draw differs from a 55 years old couple.
The other information that banks will need to have an accurate calculation of maximum loan amount you may draw includes, but not limited to, your ages, annual bonuses, self employed or full employment, any existing personal loans, credit cards repayment, personal guarantor, existing HDB and/or any other properties, other cash and/or equities pledging etc.
To get a more accurate calculation or estimation of the maximum loan amount you can draw, we suggest you may like to put up a Non-obligatory In-Principle Approval first. By doing so, you will eliminate all uncertainties and know exactly how much loan you can take, and which unit in Chestervale will be more suitable for you and your wife.
Should you need to speak to our financial home advisors on how to put up a Non-obligatory In-Principle Approval, do feel free to Whatsapp us at: wa.me/6587695300 or https://www.propertyguru.com.sg/mortgage/contact
Hope this answers your question.
You may want to text 9620 0827 for a casual chat.
The loan attainable depends on your age and any other debt obligation as well. I can assist to calculate further if I can have this info.
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.
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)
SMU BBM (Finance), Magna Cum Laude
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Contact: (+65) 97432395
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --
We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.
We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture!
I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, I could get my banker to assist with loan calculation too and I do require more information from you.
Judging from the limited information given, you should be able to afford a 3BR/4BR in Chestervale.
However, it would be helpful if you could provide me with more information like your age, financial status, number of properties currently owned etc.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.
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.
1) From your info, I assume both of you are able to get a 25 years loan tenure.
2) You should be able to get around $1 million in loans.
3) With your cash + CPF of $1.4M, you should have sufficient funds for your purchase.
4) Do remember to include buyer stamp duty in your budget, because your purchase is over $1M, your buyer stamp duty is ~4%.
5) Totally agreed that you are able to buy within your budget, bigger size, an immediate shift in, and able to see what you are getting at the level you are on.
6) If possible, speak to any agent who is well versed with asset progression. To be honest, once you purchase this, you can forget on a capital appreciation that you may get from property purchases.
7) Chestervale is located at a very place with lots of greenery, and well maintained facilities. You have to be aware that this is an EC TOP in 1999, lease started from 1997. Meaning the remaining lease is 75 years.
8) This was the main reason why it sounds much cheaper than the newer condo nearby.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly.
I would be glad to assist you.
Feel free to contact me @ 97100155
Base on max 30 years loan (Has to be 1,400sf units in the past 6 months
Base on $1Mil
5% Cash: $50,000
20% CPF/ Cash: $200,000
Basic Stamp Duty: $24,600 (CPF/ Cash)
Legal Fee: Estimate $3,000 (CPF/ Cash)
** Assume this is your first property as a matrimonial home (Couple): No ABSD
** It would be good if we can meet up for a proper calculations and share what are the options and what's best for you after a no obligation discussion.
You are focus on getting an unit in Chestervale only? Any special reason?
Eric Teo (R009622B):
HP: +65 94366510
Associate Group Director
Propnex Realty Pte Ltd