Looking to buy private property but not sure how much you can afford? When it comes to buying property, it pays to be mindful when working out how much you can borrow, so you don't end up with a very expensive mistake. Eligibility is not to be confused with affordability. In the property-buying context, it is important to note that...
When it comes to buying property, it pays to be mindful when working out how much you can borrow, so you don't end up with a very expensive mistake.Eligibility is not to be confused with affordability. In the property-buying context, it is important to note that one's eligibility to take up a home loan is not the same as one's ability to afford a property.
While opinions on what constitutes a golden mortgage-to-income ratio may differ, what's important to note is that financial sustainability should always be a key focus when making big-ticket purchases like property.How much do you need to earn to buy a condo? You're a Singapore Citizen without any other residential properties here, and hence don't have to pay 17 per cent Additional Buyer's Stamp Duty
A medium-term interest rate of 4per cent is applied, as advised by the Monetary Authority of Singapore
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