Choosing the right mortage

Read these tips.

Advice given in my book on Financial Planning

• Property should be within 5 years of family income (less cost of employing a maid)
• Repay the loan within 25 years
• Monthly repayment (including withdrawal from CPF) to be less than 25% of family income 

My advice is - buy a lower price property that you can service comfortably. It can be smaller or outside of the prime areas. If not, rent a property.