Asked by Hui Lin Lim
There are numerous references made of 35% of gross income being the typical ceiling for total loan instalments. What it doesn't explain is whether the 35% includes mortgage instalments from the CPF account. So take an example of a couple with combined income of $10K per month. Will they banks, as a principle, only approve total loans with monthly repayments up to $3.5K, or $3.5K plus $X payable from CPF?
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