I am applying for a HLE to understand the amount of loan I am eligible.
I undestand that the HLE approved amount is for the loan to pay for 80% of the valuation. I like to know if my HLE approved amount is lesser that the 80% of the valuation of my targeted unit. Does that mean I cannot continue to purchase thus particular unit.
For e.g. my targeted unit I been looking for, the 80% of valuation would be $304k. If my HLE approved loan is falling lesser than $304K, does that mean I have to fork out from my own pocket the balance amount? If there a situation I can apply for any supplementary financing to cover for the 80%?
On the same note, the COV, stamps and agency fees I have to fork out in cash amount. I like to know if I am able to obtain financing for this. Like wise for the 15% CPF and 5% cash payment, am I able to obtain additional financing if my CPF and cash amount is insufficient?