How to afford a 4 or 5 bedroom EC? How much should a couple be earning?

If the hm cost about 1.2mil, the initial amount of down-payment you will need to prepare will be at least 300k (20%),of which 5% (75k) must be paid by cash. The remaining of the mortgage amounts to about 6.5k per mth for a 20years bank loan that can be paid with both cash or cpf. That is not inclusive of the monthly facilities fees and all. If the monthly payment for EC can be up to about 7k, a couple having a combined income of at least 14k be just nice.