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View Full Version : if I am 27 yrs old now..what is the max period loan I can take?


xtreme_46
17-10-12, 14:58
is it 35 yrs or until 65 yrs old which is 38 yrs? if above 38 yrs..currently no loan can loan 80%?
buttercarp
17-10-12, 15:03
Just remember a few points:

1. Maximum loan for everyone is 35 years.
2. Loan tenure less than 30 years and does not exceed 65 years old
No outstanding loan - 80% LTV
Outstanding loan present - 60%LTV

2. Loan tenure between 30- 35 years or exceed 65 years old
No outstanding loan - 60% LTV
Outstanding loan present 40% LTV
buttercarp
17-10-12, 15:38
So now you are 27 years old and no outstanding loan.
In order to get 80% LTV,

Maximum loan tenure is less than 30 years.

There is no way you can get a loan tenure of 38 years (max set by MAS is 35 years).
Laguna
17-10-12, 17:58
butter, butter, ur such a sweet butter and took the trouble to answer him.

To bring up a person, is to let him to do his findings, and moreover, this is a very simple question
buttercarp
17-10-12, 18:26
butter, butter, ur such a sweet butter and took the trouble to answer him.

To bring up a person, is to let him to do his findings, and moreover, this is a very simple question


By answering his question I can revise the rules and not forget it :) .
radha08
17-10-12, 18:54
after you secure your loan and feel HUNGRY can ask sis butter she can recommend a lot of makan place....:D
ysyap
17-10-12, 20:06
By answering his question I can revise the rules and not forget it :) .It is indeed very complicated... the earlier CMs are so much easier to remember... 60% LTV for 2nd mortgage loan, ABSD for locals and foreigners, 4yr SSD, etc. This latest one got so much to remember! :eek:
MyPropertyAgent
17-10-12, 21:10
:)
Just remember a few points:

1. Maximum loan for everyone is 35 years.
2. Loan tenure less than 30 years and does not exceed 65 years old
No outstanding loan - 80% LTV
Outstanding loan present - 60%LTV

2. Loan tenure between 30- 35 years or exceed 65 years old
No outstanding loan - 60% LTV
Outstanding loan present 40% LTV


That's right. Butter covered it all. It's best to talk your mortgage specialist banker. Because in certain cases it's even better to buy in one persons name. So u can save on buyer stamp duty
naan1974
18-10-12, 09:53
By answering his question I can revise the rules and not forget it :) .

So which bank offer the best floating rate now huh?
Standard chartered?
bakasa2002
18-10-12, 10:01
Just remember a few points:

1. Maximum loan for everyone is 35 years.
2. Loan tenure less than 30 years and does not exceed 65 years old
No outstanding loan - 80% LTV
Outstanding loan present - 60%LTV

2. Loan tenure between 30- 35 years or exceed 65 years old
No outstanding loan - 60% LTV
Outstanding loan present 40% LTV

Great summary!