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Good morning,

Yes she can purchase a condo alone but sorry to inform you that you are unable to utilise your CPF OA funds to finance the mortgage repayment.

Only owner is eligible to take up a mortgage loan with her income and use CPF to finance the downpayment and mortgage repayment.

Perhaps we should work on the financial calculation based on your wife's income, age along with funds on hand to derive on her budget?

Hope my sharing aids in your property needs. Do contact me if you need any assistance.

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!

Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi, appreciate your sharing. Able to check with bankers base on current age and income to determine the loan attained by couple and individual, so that able to work out for each.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi,

If the condo is only under her own name, then only she can be borrower of the loan for the house. If you plan to use your income and CPF, you have to be the owner as well. I can structure a solution based on your requirements, please contact me at 97432395  for further discussion.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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If you are not an owner or co-owner of a property, you will be unable to undertake any home loan.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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Hi,

1) In Singapore, only the owner of a property can mortgage the property to banks to receive a loan.
2) It means that only the owner's income can be used to determine how much loan can be received. This is based on the TDSR calculation.
3) Only the owner's fund in CPF can be used to service the loan, paying the downpayment and stamp duty.
4) Usually the bank will open an account for servicing the loan. You may deposit cash into this account to service the loan.
5) The main thing that you have to check is how much loan your wife is entitled to before embarking on finding a condo.
6) You may approach those banks that you are familiar with to understand the loan amount.
7) Alternatively, you may approach any of the agents at no cost in this forum to recommend some bankers for them to do an assessment.
8) This will save your effort from running around to find out the information.
9) We usually can get this information via chat or via a simple phone call.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

I hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
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My Answer with regards to your Question:

If the condo is solely under her ownership, then she is the only one eligible to apply for the loan for the property. If you intend to use your income and CPF, you must also be listed as an owner.

Let me ASSIST further ,.....PM me : )

Whatsapp me at 9856 9255 

I am Sorry that This platform does not allow me to direct contact you.

You can reach me at https://wa.me/6598569255.

I am Happy to Help with No obligations! If you have any more questions or need assistance, FEEL GOOD to let me know. I am here for You! Cheers :)

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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155 .
Hope to hear from you soon.
Pei
Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd

https://linktr.ee/peiproperty
https://r011838b.propnex.net Read More

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
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(1) "If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
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(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

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“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
=========
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