How much you need to earn to afford a Landed property

[@henryvu4068]

The 2.9% is just the morgate rate to calculate your monthly instalment payment but the loan amout is based on the bank's internal stress test of either 4% as stipulated by the MAS or more than 4.5% as per their internal policy. The real affordability is actually lower until banks adjust the stress test back to the 4% MAS mark. Otherwise, I think you may need to fallback on pledging or show fund to increase the loan amount. Cheers.

[@propertyroundtable]

yes you are right . there is a higher level of stress test as mentioned though we believe we are using 4m as an entry which actually 3m plus may have options too thus the numbers shld still suffice. thanks for sharing!!

[@sebastiantan2199]

Well said

[@Victor-rt3fx]

Good video!

[@propertyroundtable]

Glad you enjoyed it

[@neorenjie]

8:08

[@raymond613]

the hero we need, thank you!

[@propertyroundtable]

❤️😂

[@chuandeang4122]

not sure if it is accurate but price for landed recently has fallen, owner expectation has fallen as well. Transaction is very poor.

[@propertyroundtable]

we await the quarterly results from URA before we can comment . but prices across different districts may have different momentum so i dunno which area you are referring to.

[@chuandeang4122]

@@propertyroundtable most looking at D19 and Serangoon garden + Kovan Areas

[@Luvmafammie]

For salaried employee bonuses, can I confirm only 70% of the amount is considered by the bank?

[@propertyroundtable]

normal salaried employees who do not have variables like commissions get 100% recognition.

[@chewming8014]

Hi, the combined income of mine and my wife’s was only $24k at the moment and we managed to buy a $4M+ freehold terrace with a loan of 75% over 24 years and pledging $300k cash…to be lock in for 2 years. Do you think pledging is overstretching?

[@propertyroundtable]

hihi, well if i may say, pledging is also forced savings 😊 if you do not feel stress every month paying your installments thsn you are fine!

[@david888a]

Example of business mEn owning their own businesses, wouldn’t it be advisable to buy it under the company n write off everything? Does banks allow such transactions. ?

[@propertyroundtable]

well stamp duties using companies to buy are relatively higher than personal nane.

[@yapdennis6596]

How do banks review borrower income who works overseas?

[@propertyroundtable]

really depends on whether your income is recognizable by the bank. . we can recommend you mortgage brokers who can assist. do pm me at 91999141 .

[@SRE2024-WO]

i work in the U.S, so i can shed some light on this, basically you will be asked to provide bank/credit card statements and also your income tax returns, proving your salary and probably will give you a haircut of 20-30% when it comes to loan since you are a risk to them e.g 3m loan will be discounted to 2.1m (30% discount)

[@yapdennis6596]

@@SRE2024-WO thanks

[@gecn9685]

very very confusing. content could have been presented in a more organized manner.

[@propertyroundtable]

well noted