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

  1. #1
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    Default if I am 27 yrs old now..what is the max period loan I can take?

    is it 35 yrs or until 65 yrs old which is 38 yrs? if above 38 yrs..currently no loan can loan 80%?

  2. #2
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    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

  3. #3
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    Default if I am 27 yrs old now..what is the max period loan I can take?

    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).

  4. #4
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    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

  5. #5
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    Quote Originally Posted by Laguna
    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 .

  6. #6
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    after you secure your loan and feel HUNGRY can ask sis butter she can recommend a lot of makan place....

  7. #7
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    Quote Originally Posted by buttercarp
    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!

  8. #8
    Join Date
    Oct 2012
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    Smile

    Quote Originally Posted by buttercarp
    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

  9. #9
    Join Date
    Oct 2012
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    Quote Originally Posted by buttercarp
    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?

  10. #10
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    Quote Originally Posted by buttercarp
    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!

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