Asked by Mr. James Tay
HDB Resale Flat Financing
Greetings, I would like to enquire about financing a HDB Flat which I intend to buy in the future.
Here are the details:
1. Purchase Price: $380,000
2. Fiancé / Fiancée Scheme
3. FG ($30k), AHG ($5k), PHG ($20k)
4. Both SC applicants
5. Both age 25 years old
6. Remaining flat lease of 56 years
7. TDSR: <60% / MSR: <30%
8. Settled admin fees
9. Current CPF OA amt: $50,000
10. Taking HDB Loan
11. Max CPF able to use: $162,000
I would like to verify if my calculations are calculations are correct.
Purchase Price: $380,000
After grants: $325,000
After upfront CPF: $275,000
Total HDB Loan: $275,000 (CPF: $112,000 / Cash: $163,000)
Loan Tenure: 25 Years @ 2.60% p.a
Monthly Cash Repayment: $739.00
Monthly CPF Repayment: $508.00
Thank you! :)
Greetings, I would like to enquire about financing a HDB Flat which I intend to buy in the future.
Here are the details:
1. Purchase Price: $380,000
2. Fiancé / Fiancée Scheme
3. FG ($30k), AHG ($5k), PHG ($20k)
4. Both SC applicants
5. Both age 25 years old
6. Remaining flat lease of 56 years
7. TDSR: <60% / MSR: <30%
8. Settled admin fees
9. Current CPF OA amt: $50,000
10. Taking HDB Loan
11. Max CPF able to use: $162,000
I would like to verify if my calculations are calculations are correct.
Purchase Price: $380,000
After grants: $325,000
After upfront CPF: $275,000
Total HDB Loan: $275,000 (CPF: $112,000 / Cash: $163,000)
Loan Tenure: 25 Years @ 2.60% p.a
Monthly Cash Repayment: $739.00
Monthly CPF Repayment: $508.00
Thank you! :)
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