AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
hi agents. i am planning to sell off my condo and buy another condo, budget around $1.8mil. i would need to take up 80% loan. Would there be any problem for 80% loan right after i sell off my only property? how should i go about it? appreciate your advice.
0 •
476 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

4 Answers

Mike Lim
Replied
Morning Mrs. Chua,

Once you have sold your current property, you will be eligible for 80% loan as you would not have any existing mortgage in hand. However, it would be prudent to get the banker to assess your credit record and income status, along with your age limit and repayment period.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted
Ander Ang
Replied
Hi Mrs Chua,

Once you sell off your existing condo which is your only property, you are definitely eligible to take up to 80% loan.

It will be advisable to do in principle approval (IPA) before proceeding with your plan. I am able to ask my banker to advise you.

Please call me at 98628691  to discuss further.

Thanks.
Ander Ang
DTZ Read More
0
Upvote Upvoted
Joanne Chia 谢诗琳
Replied
Good day mrs Chua

May i serve your housing needs ?

Loan issue depend on your age and income.

I charge 1% commission for exclusive selling rights to your property.

No commission chargeable when i serve you in your search to buy a private property.

You are most welcome to contact me for a no-obligations chat.

Joanne chia
Chia_joanne@yahoo.com.sg
Huttons property
Hp 8333 3327  Read More
0
Upvote Upvoted
Aaron Chong
Replied
Hi Mrs Chua

Yes, your next loan may be an issue due to your age. So it be good to find out more from a banker first and have the loan part done, before you commit to sell off the existing property. Cheers!

Best regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions