What is the maximum loan for 52 years old if the house is $2.6 million?

To determine the maximum loan you can take for a property valued at $2.6 million, several factors need to be considered, including your age, income, and the Total Debt Servicing Ratio (TDSR) imposed by the Monetary Authority of Singapore.

Age and Loan Tenure

Since you are 52 years old, the maximum loan tenure would typically be up to the age of 65 or 70, depending on the bank's policies. However, for most banks, the loan tenure for someone at your age would be limited, often to around 13-15 years.

Loan-to-Value (LTV) Ratio

The LTV ratio for a private property in Singapore is generally up to 75% of the purchase price for the first loan, assuming you do not have any outstanding housing loans.

Calculation

For a $2.6 million property:

• The maximum loan amount would be 75% of $2.6 million, which is $1,950,000.

TDSR and Other Factors

Your income, other debt obligations, and credit score will also affect the amount you can borrow. The TDSR ensures that your total debt repayments do not exceed 60% of your gross monthly income.

You can use EdgeProp's Affordability Calculator or Mortgage Calculator to get a more accurate estimate based on your specific financial situation and other factors. These tools can help you understand how much you can afford and the maximum loan amount you are eligible for.