As all property owners, with increasing rates and weakening economy, there is some worry we may have difficulty paying our loans. We need to have a feel to assess how much an impact it can be in the future. So here's what I did using an on-line loan calculator for my calculation.
...For a respectable condo size and location, S$1.125 M dollar price tag rounded up to $900 K loan amount at 80% loan to value. Applying DBS FHR18 +1.8% ( 3rd Year ), FHR18 is around 0.6% currently per DBS website.
Loan Rate 2.4%
This works out to $5,958 monthly repayment for a 15 years loan. That's provided monthly income hits $10,723 to get a loan and assuming you do not have any other debts like credit card or car loans. Any of this debts will hit right into the calculation of your monthly ...
