Is It Possible To Own A Private Property with SGD$8,000 Monthly Income?
- Mar 20, 2022
- 1 min read
Updated: May 27, 2022
Our Assumptions
*Type of mortgage Loan: Bank
*Down payment: 25% of property price
*Loan tenure: 25 years
*Interest rate: 2.5p.a%
*We assume that buyers do not have any other loans to service.
*We assume both husband and wife earns the same salary.
*We also have to take into account that buyers comply to the TDSR (Total Debt Servicing Ratio), where they can only pay back up to 60% of their gross total income. For TDSR, this includes all other loans such as personal, car or even student loans.
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