Asked by
I am selling my condo at the moment and looking to buy a resale HDB EM around the price range of $500,000. I plan to loan $400,000. What is the minimum annual income required to finance a loan of $400,000?
0
1566 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Hi Frederick,

Care to share your condo's name and selling price and other details?

Have you consulted your agent on the time issue for the sale of your condo and purchase of HDB EM? Would your CPF be back in time for your purchase of EM? Would there be a time lapse between both the sale and purchase, such that there would be a period whereby u have nowhere to stay? Have u checked if there are any other government regulations, like CPF board and HDB?

For your loan quantum of $400,000, other than than you need to fulfil an income amount, but also, the bank institution will consider your current outstanding loans and credit bureau/standing before approving any loan quantum.

Perhaps u may like to drop me a pte email or can give me a holler so that i can recommend my few close bankers(from various banks) to further advise yourself.

Cheers.
Brandon -ERA Marketing Director
HP: 8233 23 23
Email: aw.brandon@gmail.com Read More
0
Hi Frederick,

I can do a Financial Planning for both your Sales of Condo and Purchase of HDB EA flat.

Currently, I have a EA Flat within your budget and will be vacant within 1 month and owner not in the rush to cashout, we can arrange for a late completion in order for all your cash and CPF is returned from your Condo Sales.

Cheers !!!
Alan Low
Propnex
Mobile: 91465252 
email: alanlow5@singnet.com.sg Read More
0
Hi

Are you looking to sell/buy or rent out your property?

I will be glad to assist
I am well versed in HDB and Private Property transaction and have done many transactions
Appreciate if you can contact me at (65) 9 6 6 0 8 5 0 8 with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9 6 6 0 8 5 0 8
Email: Silviayang8@gmail.com Read More
1

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions