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 40+ still able to loan for 35 years?

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sunami
post Jan 12 2022, 10:29 AM

A CAT that can Bark. LMAO
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QUOTE(Sylph818 @ Jan 12 2022, 11:24 AM)
We are looking to buy a bigger house and found some subsale which is around 750k.
Prepared 130k for downpayment.

Husband, 42

Income 6k - 9k depends on sales target, commission bank in by monthly directly to bank

Commitment:

Housing Loan: Cleared
Car Loan: Cleared
PTPTN: NO
Credit Card Debt: NO

Wife, 36

Income: 6.7k

Commitment:

Housing loan: 1.2k monthly (277k loan amount)
Car loan: 690 (60k)
PTPTN: No
Credit Card Debt: No

Is that possible we could get the loan approve for at least 30 years by joint borrower?
*
nett or gross?
sunami
post Jan 12 2022, 10:37 AM

A CAT that can Bark. LMAO
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Senior Member
1,534 posts

Joined: Jul 2006
QUOTE(Sylph818 @ Jan 12 2022, 11:24 AM)
We are looking to buy a bigger house and found some subsale which is around 750k.
Prepared 130k for downpayment.

Husband, 42

Income 6k - 9k depends on sales target, commission bank in by monthly directly to bank

Commitment:

Housing Loan: Cleared
Car Loan: Cleared
PTPTN: NO
Credit Card Debt: NO

Wife, 36

Income: 6.7k

Commitment:

Housing loan: 1.2k monthly (277k loan amount)
Car loan: 690 (60k)
PTPTN: No
Credit Card Debt: No

Is that possible we could get the loan approve for at least 30 years by joint borrower?
*
QUOTE(Sylph818 @ Jan 12 2022, 11:30 AM)
gross salary
*
by looking at those figure..
it seems very tight since u have 2 kids...
7.5k = u will be taking ~6k home (your avg salary)
6.7k = 5.5k
= 11.5k each month - current commitment = 8k
liabilities? credit card?

650k loan payment around 3k monthly

8k-3k = 5k left...u sure it's enuf? hmm.gif

sunami
post Jan 12 2022, 10:49 AM

A CAT that can Bark. LMAO
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Senior Member
1,534 posts

Joined: Jul 2006
QUOTE(Sylph818 @ Jan 12 2022, 11:42 AM)
actually the 2nd 1 is still in planning  laugh.gif
we only have 1 kid now
just in case .... so i put 2 kids
if really cannot tahan, we can sell off husband house

No credit card debt, every month clear
we have extra income like share market, rental....
so it should not be an issue, i just wanna know if bank can approve or not in this case

anyway, 5k is enough for many families
even my fren earning 7k only, wife not working, can survive with a twins babies
*
i guess...shld be ok..since your wife is still young.
just apply the loan...if cant then change plans...lol
anyway...good luck and all the best thumbsup.gif

 

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