Should 500 million capital get a 2 billion bank loan to buy a house?

I am 29 years old, living and working in Ho Chi Minh City. I have a plan to buy a house to “settle down and have a good career” but have a lot of doubts and hope to receive your suggestions.

First of all about the area to buy, I think I still haven’t decided whether to buy an apartment in the Thu Duc city area or go further to Di An, Thuan An (Binh Duong) to have a larger area. Friends also introduced me to the house in the deep alleys, but located in the near-central area instead of suburban apartments.

In terms of finance, my budget is estimated at a maximum of 2.5 billion VND. I currently have 500 million VND available. The job has a stable income, I can pay monthly installments up to 10-12 million VND. So, is my above budget level reasonable and will I get a favorable loan from the bank?

A friend also advised me to use 500 million VND to go to my hometown or suburban areas such as Binh Phuoc, Tay Ninh, and Long An to buy land. A few years later, the price of land increased and sold. At that time, I could borrow from a bank with a smaller amount or accept a large loan to buy a larger house.

Phuong Anh