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Hi Peter,

I assume you are Singaporean purchasing 1st residential property in Singapore. With 360k cash and 50k CPF OA for downpayment and stamp duties, the maximum price you can purchase is approximately $1.45mil, assuming 75% loan not an issue.

For a purchasing price of $1.45mil, the downpayment, buyer stamp duties and legal fees work out to 408K. However the loan is still an issue. One way to bump it up the loan amount could be to pledge assets (such as local stocks or cash). But it is likely we have to opt for a lower purchase price project instead.

Perhaps you can share more info so I can advise further? May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Hi Peter,

Do you already have a property in mind at $1.6m you would like to purchase? Apart from what my fellow realtor Ivan has mentioned in pledging / un-pledging funds to bump up your loan limit through showing cash or stocks. The other alternative is to look for a co-purchaser to enter into this investment with you as a co-investor.

I have been in the real estate business since 2009, with more than 10years 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 9,400 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.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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Good evening Peter,

based on $3k income and assume you are up to 35 years old, your estimated loan should be around $400k. Based on $1.6m purchase, you require $1.2m loan thus you still need $800k loan.

Your estimated pledging amount to set aside (4 years) to obtain the balance loan is $287k while if you just want to show funds (twice, dont need to put in bank for 4 years) will be $956k.

True enough if you are buying as a single Singaporean, you can afford up to $1.46m but because of your loan assessment, you might not be able to do so.

You mentioned you doing stocks trading, do you have other assets for pledging or unpledging? Emergency funds? Funds that can be borrowed for a short period of time (for unpledging)?

Or will you be thinking of a joint purchase?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
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Association of Chartered Certified Accountants Graduate
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Hi Peter,

Based on your loan amount of 500plus k, together with your cash and CPF, you will be more comfortable buying an investment property which is less than 1 mil. However, if you have shares or other assets, you can choose to pledge them to bump up your loan amount.

Please feel free to contact me so that I can understanding your situation better and recommend you the best option going forward.

Regards,
Nick Tan
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Hi Mr. Peter,

1) Based on your situation there are 2 ways to move forward:
(a) Pledging/Unpledging
(b) Co-investor
2) Based on a S$1.6M property, at or below 35 yrs old, S$3k active income. The calculation of pledging/unpledging is as follow:
(a) Loan required: $1.2M
(b) Loan amount qualified: $400k
(c) Loan shortfall: $800k
(d) Pledge Amount: $287k (need to be in FD for 4 yrs)
(e) Unpledge Amount: $957k (show fund twice - approval & loan disperse)
(f) Monthly repayment: $5.4k

Your stocks/gold or valuable asset can be used for both pledging or unpledging. The value and relevancy of the assets will be assessed by the individual banks.

3) You have to also include the stamp duty involved when purchasing a property, which is S$48.6k. Thus the above calculation is only for reference only and not absolute.
4) You may add in a co-investor so as to pump up your loan amount and reduce your pledge/unpledge amount.
5) If the co-investor can share 50% of the property. Your pledge/unpledge amount will be as follow:
(a) Loan required: $600k
(b) Loan amount qualified: $400k
(c) Loan shortfall: $200k
(d) Pledge Amount: $71.5k (need to be in FD for 4 yrs)
(e) Unpledge Amount: $238.5k (show fund twice - approval & loan disperse)
(f) Monthly repayment: $2.7k

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
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https://R056727F.propnex.net/
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Hi Peter,

I am not sure how you derive your calculation, but in order to purchase a $1.6m property, you will need to have a higher loan. You mentioned that your loan based on your income is only about $500k. This means that your budget for the purchase should be about $900k, and not $1.6m.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More