By EC Now

[bonestock]

Bro, sorry, I catch no ball??

60% of 800k = 480k.

He pay off in 6 years means he saves 80k a year....

Ok... Now I see...

40% loan, not 60%

[chestnut]

40% loan, not 60%

Bro, he intend to pay off entire condo in6 years rite? He has the mOney for the 40% down to day rite?

So he intends to pay off the 60% loan in 6 years rite? Unless I read your statement wrongly, then paiseh.

[bonestock]

Bro, he intend to pay off entire condo in6 years rite? He has the mOney for the 40% down to day rite?

So he intends to pay off the 60% loan in 6 years rite? Unless I read your statement wrongly, then paiseh.

he still has outstanding HDB loan so max he could only borrow 40% for the condo. Paying off the condo in 5-6 years is based on his current monthly savings. Factoring in the potential rental income for the condo he is expecting to fully pay off the condo even faster. Well, that's what I gathered from my chats with him

[Shanhz]

he still has outstanding HDB loan so max he could only borrow 40% for the condo. Paying off the condo in 5-6 years is based on his current monthly savings. Factoring in the potential rental income for the condo he is expecting to fully pay off the condo even faster. Well, that's what I gathered from my chats with him

60% loan is possible for 2nd ppty. overleverage is dangerous, but so is underleverage. you are saying he want to down 40% or 60%?

anyway, for someone with net cashflow inflow of 60-80k per year, i dun see what he is worried about. perhaps timing may not be perfect now (given that prices are high), but it is anyone's guess which direction markets will head. if horizon is 10-20 years with rental as a passive income, he should be well positioned to enter the mkt.