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Hi,

I currently own a 4RM HDB flat in woodlands. Fully owned and paid for and no mortgage. In early 2018, we will have reached MOP.

I would like to buy a grounded condo unit with patio/garden which will probably costs 1m and above.

Here is my situation, I do not have a salary. All my income is via dividends from the 2 companies I owned. I earn about 150K per year. Am I able to get a bank loan to finance the new purchase?
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1 Answer

Ivan Ng
Replied
Hi,

Thanks for sharing your scenario. In this instance, its best to speak to your preferred banker as different banks have different criteria and will assess the application differently. Typically, they will look at your NOA and the dividend income will not be fully recognized.

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

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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