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Private Residential

Purchase Planning

Step 1: Derive Your maximum loan Borrowing Capacity. 


There are TWO key factors to determine the maximum loan amount:


a) TDSR (Total-debt-servicing-ratio): The new mortgage repayment & your other existing loan monthly commitment should not exceed 60% of your combine income. If the subject property is an investment property with minimum 6 months balance lease, this portion of income could be included into the total income.


b) Maximum Loan-to-valuation (LTV):  
    i) Only ONE residential property mortgage - 80%
    ii) Second residential property mortgage - 50%
    iii) Third & Above residential property mortgage 40%   


Once you know your maximum loan borrowing capacity, you can always work backward to derive your budget for new property purchase

save your time & effort. Let MxRICH calculate for you. 


Derive Your 
Maximum Loan 
Borrowing Capacity

Step 1

Apply for
In-principle Approval from at least 1 bank

Step 2: Apply for IPA (In-principle-Approval)


It is an important step. With a written IPA from bank will give you a peace of mind for securing a mortgage and avoid unnecessary lost of booking fee. We always ask our client do not underestimate this step especially under stringent regulation and check in bank. 


We will recommend you a few bank packages based on your criteria, and assist you on the documentation and follow up with respective banker. 


Normally, IPA only last for 1 month. Any annoucement of new regulation, IPA will always become obselete.  

Step 2

save your time & effort. Let MxRICH assist you.

Get Bank Indicative 

Step 3

Step 3: Bank Indicative Valuation


You can always send your shortlist property detail to MxRICH. We will obtain the bank indicative valuation for  you. 


Most banks require at least 2 valuers to match the asking price.  
The indicative valuation is extremely important if you are planning for maximum loan. 

save your time & effort. Let MxRICH assist you.

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