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Hi, my husband and I currently have a 4 Room HDB Flat under both of our names. If we intend to get a private property, and he is buying the pte property with his name solely, would it affect his loan application if I have my own personal loan liabilities which I will settle myself? If under both of our names, would it affect the loan application's approval? Thks so much for your valuable advice.
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2 Answers

Kelvin Chng 庄锦辉
Replied
Hi Calissa,

If your husband is applying the loan under his own name for this private property, your liabilities will not have any effect. However, if you are planning to apply on joint name, then the bank will take that into consideration because this will be part of your commitment and it may affect the loan amount.

Usually by default, the monthly commitment cannot be more than 40% of your gross income.

Hope it helps.

Thanks

Kelvin
Huttons
 81381050 
kelvin@sgnewlaunches.com
www.SGNewLaunches.com Read More
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Catherine PANG
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