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Hi, I and my fiancee have recently received approval of HLE from HDB in preparation for the result to my application for Nov13 Sale of Balance Flat. The HLE will be valid for a period of 6 months. Assuming that our application for SOBF is unsuccessful, we would look into buying Resale HDB as the next option. In that respect, could you advise what would be the total Cash outlay which we have to pay for the purchase of the resale HDB with the following assumptions: 1)Our combined CPF is more than sufficient to cover >10% downpayment, stamp duties, legal fees, etc 2)Our HLE amount is sufficient to cover the remaining purchase price 3)The resale HDB flat is sold on valuation without COV 4)We will be engaging a property agent (1% commission?) Further, if our combined income increases and exceeds 10k during the period of validity of the HLE (6 months), would HDB reject us the application for a HDB loan or would they still rely on the approved HLE? Thank you very much!
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4 Answers

Mike Lim
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Afternoon, If you are using HDB loan for the purchase of resale HDB unit, based on the terms that you have indicated, you will need at least $6k, excluding agent's commission. Things like valuation report, HDB admin fee, property tax refund and search fee should take up less than $1k. While the Option and Exercise fee will easily take up $5k. As per your knowledge, HDB loan is only eligible for HDB buyers with less than $10k gross combined income. So if both of you have a pay raise and exceeded the caps, your HDB loan will be rejected and you will be required to get bank loan. DO feel free to contact me for further discussion. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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YT Tan (陈永达)
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Hi there, Do take note that you have to obtain loan from bank if your combined income exceeds income ceiling. And you will not be able to obtain CPF housing grant too. Other than 1% plus 7% gst agent commission, cash outlay will be $200 plus valuation report, $80 HDB resale submission, 5% cash downpayment (applicable to 80% bank loan), $500 mortgage's stamp duty, $3k legal fees etc. Hope it helps! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More
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Able S.K Toh
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Able S.K Toh
Replied
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255

----------------------------888--------------------------------888--------------------------->>>

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : ）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The End XXXXXXX Read More
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