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Hello, I've helped many of my clients find and secure their dream resale home without Cash over valuation, smoothly. Reviews here - https://g.co/kgs/LTKbD2

Based on your current numbers + assuming your family grant of $80k + Enhanced Housing Grant of $30k, + assuming taking HLE, You would still need to cough up and extra $76k+- for a $700k HDB resale flat (with valuation match)

The highest I'd recommend you to go for, would be $600k~$620k 4 rm HDB resale flat - this will wipe out your CPF savings, as well as almost all of your $50k cash on hand.

The current HDB website calculator is slightly outdated in terms of the grants + loan quantum, make sure to do your sums properly and do remember to budget for your renovation.

I'm unable to share the screenshot here.. if you'd like to see the detailed breakdown and prefer a smooth and guided home buying process, do contact me at 8333 0360  .

Thank you!

Lucas Lim
SUSS Bsc (Marketing), Merit

Contact: (+65) 83330360 
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Hi,

Thanks for the info. Your max HDB loan should be approximately $411k. This coupled with the $75k CPF OA $50k cash and (if both are first timers never taken grants before) first timer grants of $80k for 4-room, enhanced housing grant of $25k, will mean approx $641k in total. So factoring in stamp duties and legal fees agent success fees, your max purchase price should be around $620k.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
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- Buyer Mr Wang & Ms Ng : We want to convey our thanks to Ivan, who helped us find our first home. Ivan was very responsive when we first met, and took time to understand our needs and requirements for our first home. He helped us narrow down our criteria and gave us good advice on how to structure our mortgage as well. He also made a great recommendation of an area we never thought of, and it was where we eventually bought our home. We appreciate Ivan's thoroughness in pros and cons of all our options that we viewed. We never felt pressured or rushed to make a decision. In fact, Ivan gave honest and useful inputs on the considerations of acting immediately or waiting. All in all, it was a very smooth experience and we ate very happy with the unit we bought. Thank you very much, Ivan! Read More

Based on your combined monthly income of $6,500 and assuming a loan tenure of 25 years, you may be eligible for a maximum HDB loan amount of around $520,000. This is calculated based on the HDB loan eligibility rules that state that you can borrow up to 80% of the HDB resale flat's value or purchase price, whichever is lower.

Assuming that the 4-room HDB resale flat you are interested in costs $700,000, the downpayment you would need to make would be approximately $180,000 (20% of the purchase price).

As you have CPF savings of $75,000 and cash savings of $50,000, you have enough for the downpayment and other transaction costs such as legal fees and stamp duty.

Therefore, it appears that you may be able to afford a $700,000 4-room HDB resale flat, although you should keep in mind that this will depend on the actual loan amount you are approved for, as well as the interest rate and other loan terms. You should also consider your monthly budget and ensure that the loan repayments are manageable within your financial means.

This does not take into consideration any grants that you may qualify for. It is also important to factor in other costs such as renovation, furniture, etc.

If you are not able to afford a $700,000 flat, you may want to consider looking for more affordable options within your budget. The highest-priced 4-room HDB flats currently on the market may vary based on location and other factors, so it's best to work with a property agent who can help you find the right property that fits your budget and requirements.

As this is big sum investment, do consider your options and weigh them carefully. It is also important to note that the above is a guide and other information needs to be considered, such as income weighted age that would affect loan tenure.

It is always good to have all options available presented to you so that you will be able to make the best decision.

Wimal W Amarasuriya
PropNex Pte Ltd.
CEA: R067600G
Mobile: +6593826862  Read More

I have a slightly different estimate on your loan eligibility, which is just under $370k, thus your maximum purchase price will likely be under $580k if you are eligible for all the housing grants. You should do a HLE submission to find out more about your loan size and eligibility.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi, appreciate your sharing I will advise you to have a check with Banker or do HLE loan check online to work out your budget.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi,

Based on the figures given, your loan amount is about $369k.

Your may qualify for:
CPF Housing Grant ($80k)
EHG ($30k)
PHG ($20k)

Assuming you qualify for all the Housing Grants that is available, your max purchase should not exceed $600k to be safe. Do take note that you will need to set aside funds for stamp duty as well.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More