Commercial Property (Personal)
For a start, you can take up a bank loan up to 80% of the loan-to-value (LTV) which is considerably higher than residential properties. The Total Debt Servicing Ratio (TDSR) will be applied to your individual income which meant that your debt obligations cannot exceed 60% of your monthly income.
However as you cannot utilise the funds in your CPF account, be prepared to pay up to 20% downpayment in cash. Factor in other costs like GST and Property Tax and the final figures might be a little daunting. This where we will step in to assist you.
Our specialist will advise you on which documents to submit with your application based on the specifics of your situation. Do speak with us for an unbiased advice on the best loan to take with the lowest interest rate. Consultation is free and non-obligatory, of course.