Hi,
You will need to make a downpayment of 40% for your 2nd mortgage loan. In your case, you could look at a 2-bedroom condo no more than $750K so that you could manage the downpayment as well as the stamp duty.
Banks are usually less stringent on borrower's income level when loan amount is 60% of property price. For a start, you could go for an in-principle loan approval through your regular bankers or I could connect you to a few.
Besides the bank approval, only you know best if you'll be able to manage 2 mortgage loans with your regular income which should be the biggest consideration in my opinion.
Best regards,
Jeron Lee
Jones Lang LaSalle Residential
Mobile/WhatsApp:
+65-9001-5060
Email: jeron.lee@jllassoc.com
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