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My wife and I own a terrace house (D15), bought with CPF + mortgage loan. Mortgage loan now outstanding about 200k. We are looking to purchase another private property to stay (condo or landed in D20) and rent out our current house. Our combined monthly income is approx 15k. What is the max price of private property we can afford based on our current situation?
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William Choo
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Hi. To use a rough calculation, use your annual disposable income multiply by (65 - the average of your combined ages). That is about the maximum loan you can get. The LTV of your next property would be 60%. Assuming you buy an apartment worth1 million, you will need at least $400,000 cash + 3% stamp duties.

Of course if you wish to consider other financing options such as a home equity loan, you can even afford to buy a more expensive home. I'd advise against over leveraging.

Do contact me if you have any othe enquiry.

Kind regards,
William Choo (朱文彬）
Senior Marketing Consultant, 
CEA Reg No: R044093D
Huttons Asia Pte Ltd (License no: L3008899K)
Mobile: 9721 8288 
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