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Hi, we plan to buy a terrace house in East Coast sometime early next year. My CPF will be at 50k, Cash 165k.

Our combined monthly income is 16k/month (10+6), however my wife has just started working and has not filed any tax returns as yet. Will it difficult to get a loan on our combined incomes?

We are looking at a house with a valuation of about 1.2Mn maximum. Our projected savings will though not be 20%, at 20% we can afford 1.07 Mn only.

Can we secure a 85% loan or a bridging loan to meet the 20% deposit ? Your opinion is appreciated
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3 Answers

Hi Mr K B,

On loans matters, it's at best to speak to several banks to get a clearer picture of eligibility. You can also enquire on the the percentage of loan amount be it, 80% or 85%.

Once you got a principal-in-approval from the banks. i'm sure you will have a better understand of both you and your wife financial status.

Hope i answer your questions.

Regards,
Edmund
HP: 98415795 
Email: edmundtkc@gmail.com Read More
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"If you need more assistance with property matters:

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(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

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For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT :)

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

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