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Home Buying

Asked by Mr. Mugen Fire 24 Sept 2019

Let say the condo price is $1.5M. We would need to have 5% Cash = $75,000 & 20% Cash = $300,000. We also need to pay the ABSD 12% = $180,000. This ABSD would be return to us when we sell our current property & upon key collection of the condo?
Remaining 75% for loan & the maximuim loan is base on Age 65 less the current age of person? Normally we should take the youngest or person having the higher income?

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5 Answers

Previously Asked Questions

Jenny Tran · Answer 1 · 2019-09-24T14:54:04+08:00

Jenny Tran

Replied 24 Sept 2019

Dear Sir,
If the property is under both names, the bank will calculate the Income Weighted Average Income (IWAA) by taking the average age of the borrowers, weighted by their respective gross income.The lower the IWAA, the higher the loan tenure.
Kindly contact me at 9726 1112 to have further discussion

Thank you and best regards,

Jenny Tran
9726 1112 Read More

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Robbie Chen Chee Howe · Answer 2 · 2019-09-24T14:55:42+08:00

Robbie Chen Chee Howe

Replied 24 Sept 2019

Hi Mugen Fire,

You are partially right. The maximum loan tenure need not be capped at age 65. It could be also be up to age 75.

Income and age will be weighted average. It is best if you could speak to a banker on your loan eligibility.

I am experienced and well-versed in both private and HDB resale transactions. My area of focus is in Central/Queenstown/Bukit Merah/West region, and I am blessed to have transacted several record-breaking "million-dollar" HDB flats over the past 1-2 years, with many others in the $900k+ range.

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.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More

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Thea Hoi Shu Min · Answer 3 · 2019-09-24T17:35:33+08:00

Thea Hoi Shu Min

Replied 24 Sept 2019

Dear Client

Good day to you! I would be more than happy to assist you in the house purchase.

Over the past 5 years, i have taught my clients my prone framework that helps my clients systematically identify project to see which is a winning or losing project. I can teach you this framework which other people have benefited in order for you to use this framework yourself to identify projects. You will be empowered to choose your own project after learning this framework!

Feel free to give me a call at 81255537 or email me anytime in order to share with you the latest fact and figures to understand why many people are taking action in today's market and the criterias when buying a private property with great potential up side. Hope to hear from you soon!

Warmest Regards,
Thea Hoi
81255537 Read More