Asked by SK
Dear Guru, I am a single 38 and would like to buy over my parents' 3-room flat. but my monthly income just exceeded $5k (last 3 month's pay average is still below $5k as there is a pay increment in Feb) so cannot borrow from HDB. the flat is under both my parents' names. If I appy as family (myself and my mum), does that mean I qualify for HDB loan as the family total income does not exceed $10k monthly. The flat is already fully paid using my mum's CPF decades ago. If I do that, I believe HDB will treat me as 2nd timer applicant? If yes, what is the implications for me, if any? For example no grant. For your info, I will still 100% finance the flat after the purchase. I do not wish to borrow from the bank
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