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Possible for a married 36 yrs old, with single income of $6K, to purchase a condo near to Farrer Park due to schooling children? Currently own a 4-rm HDB flat, with 100K outstanding mortgage.
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2 Answers

Ander Ang
Replied
Hi,

It is not possible to advise based on your limited info provided.

We need to know your current cash savings, approved bank loan quantum for condo purchase, approx. sale proceeds from selling HDB flat, CPF amounts, etc.

Basically need to do a detailed calculation first.

Appreciate we can meet up and discuss. I am contactable at 98628691  .

Thanks.
Ander Ang
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Mike Lim
Replied
Afternoon,

With an outstanding HDB loan of $100k you will only be eligible to purchase the private property with 50% loan. As to whether you are financially capable, we will need to work on your loan eglibility, sizing of the unit that you are looking at and possibility of keeping or selling your current unit to facilitate the purchase before we can decide further.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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