How much money do you and your spouse need to earn in order to afford a $300,000 HDB flat? If monthly instalment is $1225 for a $300,000 HDB flat with 25 years loan repayment period,you and your spouses combined gross income must be at least approximately $4100. The magic number is $4100. This is to meet the 30% criteria of the maximum gross monthly income that can go into home loan repayment. Any income below that level and HDB may not grant you the loan you need. Whats your plan B if plan A(day to day work) is sufficient enough? Will our future generation have a job that is able to sustain themselves if this is the price to pay in Singapore?
Posted on: Mon, 10 Mar 2014 10:31:00 +0000
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