Hi,
1) Although there is no direct relationship between how much you have in your CPF OA and HLE.
2) HLE is HDB Loan Eligibility; i.e. a concessionary loan from HDB for HDB flat purchasing. This is mainly based on your eligibility to purchase an HDB flat, and the amount is based on MSR calculation on your current monthly salary.
3) However, there is a policy in receiving HLE; i.e. you have to utilize all your CPF OA except $20k before the loan dispersed. So even after keeping $20k in your CPF OA, and the amount still able to pay for the flat. HLE will not be dispersed.
4) It is only if you use a bank loan, that you have the freedom to keep more in your OA. Because bank loan allowed to dispersed all 75% even though you have sufficient amount in your OA.
Do note that by using a bank loan, you have to fork out a minimum of 5% cash together with 20% cash and/or CPF to form the minimum downpayment of 25%.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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