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Anonymous
What will they look at primarily?
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Angeline Teo
01 May 2020
Calculator at The Internet
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Pang Zhe Liang
28 Apr 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
In most cases, they will require at least 2 years NOA (available on IRAS portal. Moreover, they may ask you for the latest 3 to 6 months income as well.
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Colin Lim
28 Apr 2020
Financial Services Consultant at Colin Lim
You are self employed and you are applying for new home loan?
They will ask for your 2 years latest...
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Assessable Income
And banks usually discount 50% of Self Employed's income.
A person with a corporate or civil sector salary of $30,000 may be able to get a property loan for this 3rm flat.
A self employed will probably need $60,000 assessable loan to qualify for the same loan, because banks usually discount income from commission based income, director pays, self employed pay.