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Old 07-08-2014, 04:42 PM
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im not very familiar with the details of the housing loan as my parents deal with it, but i bought the condo in mid 2012 and so the loan must have been obtained then.

once the condo TOPs and a monthly rental income of approx $4k (i hope) comes in, i am hoping that things will get better.

for the record, i do not have any other outstanding loans, ie car/study loan etc.

Quote:
Originally Posted by Unregistered View Post
A $1.2m condo sounds like a stretch for your income level even though your parents paid for the deposit. Assuming a 30-year loan of $960k, and using 3.5% as interest (MAS guide), your monthly installment is $4,300. This amount is more than 80% of your monthly salary, way above the prescribed TDSR of 60%.

Did you obtain the loan before the TDSR policy kicked in?
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