AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
HI Gurus, I would like to invest in a private apartment or condo. I would like to know what is the price window of a property I can look into with my current salary package. My salary before CPF is 5k and I have 40k cash to spare. How much can i loan for 90% or 80% loan? WHat is the monthly installment? How much more cpf do i need for 80% and 90% loan? After purchased, could i use my monthly cpf contribution for monthly installment for the repayment? I'm looking at any unit with 2 bedroom.
0 •
1195 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Sunny Tham 谭燕生
Replied
Hi Russell,

Thank you for posting your question.

Your question is the most important one for any real estate deals: Affordability. It is important for you be comfortable in paying your monthly home loan.

To answer your question, other factors must be considered, age, other loans, credit history.. etc.

I would like to introduce my banker to you and she can give you a credit assessment without obligation, and let you know which private condos is within your budget.

Do call/sms me and I wil have my banker contact you promptly.

Have a great day!!

~Sunny Tham
Mobile: (65) 9669-8312 
Email: sunnytham@ymail.com Read More
0
Upvote Upvoted
  • RY
    Replied
    Hi Sunny,

    I don'y have problem paying monthly home loan. I'm more curious on the payment on the long run. I would be renting out the unit if I'm buying one. BTW, Im loan free, age 28, no credit card outstanding and I dont think i have problem with credit history. If I wanted to limit my budget to 600k. whatdo you suggest?
Sunny Tham 谭燕生
Replied
Hi Russel,

Thank you for replying.

With a 600K budget, I have the following 2-bedroom units that I think you will be interested.
(year in parentheses is the completion date)

1. Parc Vista (2000) [Jurong] (1055 sq ft)
2. Guilin View (2000) [BUkit Batok] (861 sq ft)
3. Regent Grove (2000)[Choa Chu Kang] (926 sq ft)
4. Regent Heights (1999) [Bukit Batok] (1023 sq ft)
5. Casablanca (2006) [Woodlands] (~950 sq ft)

For monthly loan payment for a ~600k condo unit
=> 80% loan approved @2.65% for 30 year term, monthly payment = approx $2000
=> 90% loan approved @2.65% for 30 year term, monthly payment = approx $2200

Other fees to consider:
(a) Stamp Duty (3% of purchase price - 5400)
(b) Legal fees: around 3k

Feel free to call/sms me to set up appointments to view the above units. Let me know if you prefer other areas.

Have a great day!!

~Sunny Tham
Mobile: (65) 9669-8312 
Email: sunnytham@ymail.com Read More
1
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions