How much do I need to afford an EC⁉️ LOANS

If you’re considering buying a new or resale EC, the question you probably have is how MUCH money do you really need 🤕⁉️

okay first let’s talk LOANS

1. Income requirements: monthly combined household income cannot exceed $16,000 👫🏠

2. Type of loans: only private bank loans up to 75% 😨

3. Loan Servicing: Subjected to MSR. Max 30% of your monthly income to be used for loan 🥴

Are there grants? YES! First time buyer is eligible for a CPF housing grant of up to $30,000 😳

The above is just the loan requirements! To really determine if you can afford an EC, we have to consider the CPF balance, loan size, and cash downpayment! I did a case study regarding this at https://www.truesightproperty.com/post/executive-condo-affordability . Making a post about it soon! 🙂‍↕️

BUT It also depends if you ARE eligible for an EC! If you want to determine if you’re eligible visit https://www.truesightproperty.com/ec-eligibility-check 😄🙏🏼

Making a seris of informative posts about real estate soon! 🫶🏼