“What? Of course, the price I can afford is $1.2 million.” No, wrong answer. Even though your bank loan limit is $850,000 based on your Total Debt Serving Ratio (TDSR, which is 60%), you may not get such maximum amount when buying a certain property because of Loan To Value (LTV) limit, which is currently 75%. In addition, you need to pay lawyer fee, Buyer’s Stamp Duty (STD) and Addition
A few friends of mine recently approached me to buy their 2nd property for investment. Today, let’s talk about the 1st question you should answer for property investment: How big is your purse? Before starting to look for property unit, you must know how much money you can put on the table, especially, how much bank loan you are eligible to get from a local bank. Otherwise, if you just
Before helping a client to buy a house, I usually ask them this question: Is this house for your own stay or for investment? The answer I got is usually it should be good for both. Of course, being good for both is the best result and it certainly is my ultimate aim for my clients. But the selection criteria for own-stay and for investment are not always the same.
1. Determine how much you can afford. cash + CPF A/C + bank loan (should have an Approval-In-Principle from a bank). 2. Go property hunting with your agents. 3. Make an offer by passing to the seller an Offer To Purchase and a 1% cheque. In exchange, the seller should issue to you the Option To Purchase (OTP) in response to your Offer To Purchase. 4. Apply for the bank loan. Sign
Sellers often ask me this question: how much cash will I get after selling my HDB unit?This depends on whether you have fully paid up your home loan, on how much CPF you have used, and of course also depends on your selling price.The following process tells you where to check the relevant data and how to calculate. Let’s suppose this HDB unit was bought by the husband and wife
A, Who are eligible to buy?To be eligible to buy a resale HDB flat,1) You must be over 21 year old and form a family nuclues, such as husband and wife, parents and children, siblings. And2) at least one of you must be Singapore citizen, or husband and wife are both Singapore PR and both have got PR longer than 3 years.Single Singapore citizen who is over 35 year old is also eligible to