% of gross salary into housing payments

[Pilipala]

Hi all,

I am looking at buying a landed property and i will like to know how much should i allocate for the payment of the monthly instalments from my gross salary?
Appreciate if someone can give me a better picture so that i may not over commit.
Thank you.

 

[wt_know]

% of gross salary into housing payments

my take - 30% max (cpf + cash)

 

[totoseow]

Re: % of gross salary into housing payments

allocate all. zero. humblebrag thing.

 

[C3P0]

Re: % of gross salary into housing payments

The bank will decide how much u can borrow, don't worry.....don't think we can help without knowing the full picture....

 

[feynman82]

Re: % of gross salary into housing payments

bank usually take 40% as benchmark when computing approval.

 

[davidtch]

Re: % of gross salary into housing payments

My monthly CPF Ordinary Account contribution ONLY.

 

[wobbles]

Re: % of gross salary into housing payments

Some will say if you cannot afford to buy your landed property in CASH, don't buy.

Please note, that "some" is not me, because I'm saddled with a mortgage that is bigger than Kim Kardashian's ass....

 

[detach8]

Re: % of gross salary into housing payments

Like some people say, no cash to buy car... dun buy car ;P

 

[golilok]

Re: % of gross salary into housing payments

so subjective, how to be objective
with more factual, then we more actual

 

[Bat69]

Re: % of gross salary into housing payments

my take - 30% max (cpf + cash)

Agreed, but from one person only

 

[animian]

Re: % of gross salary into housing payments

IMHO it's all about comfort zone. banker has unique way in computing the amount they can lend you but sometime these amount are scary !!! and even one can have doubt whether CAN I REALLY afford that kind of loan !

 

[wt_know]

% of gross salary into housing payments

IMHO it's all about comfort zone. banker has unique way in computing the amount they can lend you but sometime these amount are scary !!! and even one can have doubt whether CAN I REALLY afford that kind of loan !

yeah, bank would love loaner to stretch to the max with collateral. anything goes wrong, they will take everything and lose nothing

 

[animian]

Re: % of gross salary into housing payments

yeah, bank would love loaner to stretch to the max with collateral. anything goes wrong, they will take everything and lose nothing

legalized loan shark...everything can can can... when you cant pay ... instead of hanging pig head they give you lawyer letter and then... buy buy to whatever you once partially owned

 

[ac323]

Re: % of gross salary into housing payments

Hi all,

I am looking at buying a landed property and i will like to know how much should i allocate for the payment of the monthly instalments from my gross salary?
Appreciate if someone can give me a better picture so that i may not over commit.
Thank you.

will this be your 2nd or 3rd or 4th property???












cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[wt_know]

% of gross salary into housing payments

will this be your 2nd or 3rd or 4th property???












cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

i property, 3 cars can?

 

[ac323]

Re: % of gross salary into housing payments

i property, 3 cars can?

if salary high, no issue.....................................or is cash rich










cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[C3P0]

Re: % of gross salary into housing payments

Ya no issue if as rich as ac323. Oh btw Alvin, no picture today?

 

[ac323]

Re: % of gross salary into housing payments

Ya no issue if as rich as ac323. Oh btw Alvin, no picture today?

 

[golilok]

Re: % of gross salary into housing payments

ac323 + C3PO = true love in every thread

 

[Red_Bean_Bun]

Re: % of gross salary into housing payments

Depends on which country you talking about ......