In a small bowl, combine warm water and yeast. Let it sit for about 10 minutes until it looks frothy.
In a large mixing bowl, stir together flour and salt.
Add the yeast mixture, condensed milk, egg, and melted butter into the flour mixture. Mix until a dough forms.
Knead the dough on a floured surface for 8–10 minutes until it’s smooth and elastic.
Place the dough in a greased bowl, cover it with a towel, and let it rise in a warm place for 1–1.5 hours or until doubled.
Punch down the dough and shape it into a loaf. Place it in a greased 9x5-inch loaf pan.
Cover and let rise again for about 30 minutes, until it has puffed up.
Preheat your oven to 350°F (175°C).
Bake for 25–30 minutes or until the top is golden brown and the loaf sounds hollow when tapped.
Let cool slightly before slicing. Slather with butter or dunk in soup—whatever makes you happy.