AskGuru Q&A Community

Hi,

To buy condo, bank is using TDSR to measure how much you can loan.
You may use the below link to understand how much you can loan, and how much interest you will be charging.
https://uniservices1.uobgroup.com/secure/online_tools/calculators/TDSR/index.jsp?s_cid=tdsr_cal_12

The main principle is 60% of your salary can be use for monthly mortgage.
You can loan up to $961,000 for 30 years, my assumation you are around 35 yrs old. Thus can loan up to 65 yrs old.

You also have to understand cash needed for a private property purchase.
5% must be in cash
15% can be in cash and/or CPF
max 80% loan from any banks.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com Read More

Hi, I would be most glad to refer a banker to help you out on this. Pls feel free to let me know if you need any banker’s contact or any other assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

I will be able to assist you in your calculations. But first, you are missing out many information, like your age and your liabilities. Without these information, I will not be able to give you a definite answer.

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 Read More

Hi do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More

Dear Sir,

Good day to you! I would be more than happy to assist you in your house searching process. Feel free to give me a call at 81255537  or email me anytime in order to assist you with your enquiries. Hope to hear from you soon!

Warmest Regards
Thea Read More

Hi,
I am glad to assist you to compute the estimate bank loan amount and provide a list of property for consideration. Kindly drop me an email for me to share.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

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

Dear Single PR,

Congrats on taking the first step to owning your first property in Singapore !

Your budget sounds good to buy a new launch condo ! I will give you a personalised financial calculation and answer your question and help you on this search for your dream property.

No stress !
Do contact me via call / whatsapp

Avery
 88080838 
PropNex Read More

Good afternoon buyer,

You are eligible for $1.44m loan based on your $6800 monthly income, 3.5% interest rate and max 30 years loan tenure.

This doesnt mean you can afford a property woth $1.8m.

Affordability of a property is also depends on the finances you have on hand.

You need to have enough cash (at least 5% of purchase price) and CPF OA funds for the initial downpayment if you are eligible for max 80% bank loan.

Initial downpayment:

1) 5% cash downpayment
2) 15% cpf or cash downpayment
3) estimated 8% stamp duties (5% additional buyer's stamp duty as SPR)
4) other costs will be legal fees, valuation fee etc.

Care to share more about your intention? Investment or own stay?

How about your requirements (number of bedrooms, preferred location etc) so I will be in a better position to value add further.

Hope to hear from you soon!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More

Good afternoon to you,

It's great hearing from you.

Not to worry, there's no such restriction. You are eligible to purchase new or resale condo.

How shall we kickstart your house hunting process?

Why not we meet over a cup of coffee and explore what are your options?

Hear from you soon!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More