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I am currently staying at Tiong Bahru Area in a 4rm HDB. Will like to move to the east side closer to my parents but is it true that if I don't sell my HDB, I can only take a loan of 60% if I purchase a condo. Our combined income is about 9k.
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2 Answers

William Koh
Replied
Hi Mr Tan,

With existing mortgage, you are only eligible for max of 60% for 2nd mortgage loan.

Feel free to contact me for further queries.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
williamkoh.st701property.com
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Mike Lim
Replied
Evening Tan,

Fulfilling the MOP is one of your concern. THe other thing you need to worry about is the cash outfront when you purchase your second property, as bank can only loan you 40%.
Although your current income is healthy, it would be a plus, if you work the sums out properly, prior to jumping into it. Don't fail to plan as you don't plan to fail.

FYI
Mike Lim
 96929209 
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