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Hi Gurus,

Some background about my family. My wife is holding an employment pass and is drawing an income of S$4.5k/month, while I'm a Singaporean and earning S$4k/month. At the moment, I have 40k in CPF OA, and both of us are able to fork out 60k cash for downpayment.

I would like to understanding the following
- What is the HDB loan amount we can get.
- What is the grant available for us.
- Will things change if my wife become a PR years down the road?
- Is it advisable to look for a unit that cost 600-650k?

Thank you so much.
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1 Answer

Ivan Ng
Replied
Hi,

Yes you can qualify for hdb loan, its best to get an HLE done online to find out the approved loan amount. You be able to qualify for 15k grant under the non-citizen spouse scheme.

If she gets PR, can apply to top up the grant by another 5k, assuming policies don't change by then.

Value is subjective to each buyer. Using comparable transacted prices in the area will be a good gauge.

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

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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  • ES
    Replied
    Thanks Ivan. I have done the HLE, apparently we are eligible for max 400k loan. Both of us are working at Boon Lay area. Our parents are living at Serangoon central. We are looking for a unit that is able to accommodate the travelling time as we don't own a car, living near the mrt station is preferred. We are planning to have children in 3 years time and will need our parents to look after him/her, a childcare centre and basic amenities are important.

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