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If you are looking to own 1 property each, then the loan numbers will be derived based on individual's income and age. Without any existing home loan, the maximum loan one can obtain is at 75% of the value. Without any income or assets to be based on for borrowing, there is no way to obtain any home loan.

Home loan will be up to age 65, and subsequently you are able to refinance the loan to age 70. Rental income for the 2nd purchase unit cannot be considered for your home loan from my understanding. You may wish to speak to a banker directly for your questions on loan to get a more accurate number and advise.

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I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 15,900 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

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Hi sir, thanks for your inquiry, i would be able to advise you on the figures and proposal and customize a portfolio tailored to your needs and situation.

Please kindly contact me at 98216829  for a non obligated sharing session and i will be happy to share.

Cheers,
Shoan | PropNex
Www.shoanproperty.com
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Hi Sir,

Allow me to provide you with some inputs regarding your situation. You can borrow up to the age of 65 years old if you are borrowing the max 75% of the purchase price. If you wish to extend the loan tenure, it is possible but the loan amount will be lower.

However, if you are not working, it may be challenging for you to secure a loan with the banks. The min down payment is 25% but by borrowing the balance 75%, the rental will not be able to be sufficiently covered by the rental income.

For your case, it may be better to downsize to a smaller and cheaper HDB and purchase a small condo (after the 5 years MOP) to generate rental income.

Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 96 44 48 54
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(E) nick96444854@gmail.com

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Testimonial from my Clients
Nick is THE absolute best agent, guide to navigating the property market in Singapore. From selling to buying, he manages to get the absolute highest when selling and negotiators to the absolute lowest when purchasing. (So double win for me!). In fact, I bought my new home at the absolute lowest transaction across all the transacting homes. Most agents would just give vanilla advice, he puts scrutiny into every potential choice we were making by advising potential gains, rental yields, back up plans. I think we went through a whole list of more than 20 + before narrowing down to a few high potential properties! Super responsive to our questions and handheld us through the process and even answered questions in the middle of the night. Would absolutely recommend working with Nick for anyone looking to buy, sell or just advice!
Kenneth (Seller and Buyer) Jan 2025

Nick was introduced to me by a friend who learned that my previous property agent wasn’t meeting my expectations. During our first phone call, Nick quickly grasped my concerns and provided a detailed financial plan the next day. Since switching to Nick, selling my house has been much more relaxed. His virtual tour and informative fact sheet eliminated the need for my family and me to be constantly present for viewings by unsuitable buyers.
Nick was invaluable in purchasing my next property. He sourced units within my budget and analysed price trends of condo projects I was interested in. With Nick’s assistance, the buying process was seamless, and he expertly coordinated the sale of my current unit with the purchase of the next. Kudos to Nick for his outstanding service and advice!
Eileen Chen (Seller) June 2024

During Nick’s presentation to us, he showed confidence and resourcefulness. He showed us his various methods of reaching out to potential buyers instead of just relying on Propertyguru. He also saw the potential of our home to sell at our projected price. Where other agents deem impossible to achieve, he did his analysis and deems it reasonable and achievable. Nick proves trustworthy. From time to time, Nick will update us on the progress and on any viewing. He will filter buyers who could not meet our asking price and provide update and advice on the offers. We are grateful that he helps us to negotiate for a good price for our home. In summary, Nick is dedicated, resourceful, trustworthy and willing to take challenges.
Sunny Ng (Seller) April 2024

Selling our house was a pretty stressful ordeal, as we have already committed to buying our new home and hence have a timeline to meet. Losing a substantial deposit and worse still, not getting our dream home caused many sleepless nights as we are nearing our deadline. I am very glad we have decided to switch to Nick and seek his help after the dismal performa Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi, appreciate your sharing. Able to breakdown for you base on loan and purchase for easy sum
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Good day to you,

Selling for $1.3 million means the owners must settle the existing mortgage, CPF utilized, accrued interest, outstanding arrears if any, legal fees, and other miscellaneous expenses before receiving the net proceeds. Hence to reach your intention, there are grounds to uncover.

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Mike Lim
 96929209 
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ERA Read More

1. **Loan Eligibility**: If you're looking to own one property each, the loan amount depends on your income and age. Without an existing home loan, you can borrow up to 75% of the property's value, but you need income and assets to qualify for a loan.
2. **Loan Tenure**: Home loans are typically available up to age 65, with the option to refinance until age 70. However, rental income from a second property cannot/may not be able be factored into your home loan calculation.
3. **Challenges if Not Working**: Without employment or income, securing a loan becomes difficult. Even though the minimum down payment is 25%, the balance loan of 75% may not be fully covered by rental income.
4. **Possible Solution**: Downsizing to a more affordable HDB unit and considering a small condo after fulfilling the Minimum Occupation Period (MOP) could allow you to generate rental income and better manage your financial situation.

_"The best way to predict the future is to create it." – Abraham Lincoln_

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Hi

Assuming you have sold your HDB, both of you will have zero property count. The home loan for that will be based on 75% LTV if you loan up to 65 years old, or 55% LTV if you loan up to 75 years. The minimum downpayment + stamp duties will be approx 30% if based on 75% LTV, and 50% if based on 55% LTV. For 75% LTV, the minimum cash outlay is 5%, for 55% LTV, the minimum cash outlay is 10% . The rental income cannot be recognized as part of the loan application, since you have yet to purchase the property.

If you do not have employment income, it may be challenging to get any loan from banks unless you have substantial financial assets (cash) to pledge as collateral.

Based on the info shared, it depends on the cash + CPF OA available after the HDB sale, to determine the affordability of the types of properties we can look at.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

Condo Seller

Mr & Mrs Wee : We would like to share our appreciation and commendation to Ivan for their professionalism and dedication in handling our property transaction. It was a great pleasure to work with him as he was patient throughout the entire process and explained to us and clarified any doubts we had without fail. He was also very prompt in responding to all the queries we had. While we were unsure if we were able to sell off the property in time, Ivan constantly reassured us that it was possible and offered his professional advice. In fact, he managed to secure an offer to sell the property above our expected price while concurrently negotiated the buying price for our next property. Having Ivan as our agent significantly made the entire process seamless and fuss-free. We will definitely recommend Ivan to our family and friends. Read More

Hi,

1) You missed out the fact on whether there is any outstanding loan for your current flat.
2) I assumed that your current flat is fully paid, and you are able to get back all the sales proceeds in your situation.
3) Without additional saving, your $1 or $1.3M is little for a private condo.
4) Buying a 1 bedroom condo would cost you at least $650k, and BSD for this is $19.5k. Do up a little simple reno + furniture. I would say that you already used up $700k.
5) Although you only need a minimum of 25% downpayment for the 2nd condo which properly is another 1 bedroom condo.
6) A 1-bedroom condo rental is about $2.5k. Deduct off 11% property tax for non-occupier residential property and another 20% for MCST. Your remaining rental should be kept within $1,725 to $1.8k if the MCST rate is lower.
7) After paying off the monthly mortgage, properly you will be left with a 2~3 hundred dollars only.
8) Moreover, if both of you already retired without any income. You will not be able to get a home loan unless using the pledg/Unpledge, the home loan will be limited. You may find out more details on this with a banker if really interested.
9) The bank will not take a future income such as future rental on the property to give out loan. The risk is too much for a bank.
10) I would not recommend you go toward this route.

All the best!

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Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
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Ling CK
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https://www.facebook.com/Homesellerbuyer Read More