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Congrats on your citizenship approval! You are right that you will not be eligible for HDB loan until 30 months after the disposal of your overseas property, thus your only option up front is bank loan. Considerations for housing grants are similar to that of obtaining HDB loan and your monthly income should not exceed $7,000 as per current regulations.

Basing on current age and income, you should be looking into units not more than $385,000 in the market due to your loan tenure and income eligible on top of your cash and CPF available. CPF OA usage is dependant on the age of the resale flat you are purchasing, where the lease balance should last you to at least 95 years old in order to fully utilise your CPF OA.

Rules and regulations may change thus it is advisable to revisit this sometime earlier next year while you continue saving up on your existing cash and CPF aspects.

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
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi, appreciate your sharing. I would propose you to check with banker first base on your current situation what the highest loan that you are able to attain, so that you are able to work out the down payment.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi,

A) You got this right. The wait-out period after selling your private property is as follows:
(i) 15-month: Bank loan
(ii) 30-month: HDB loan or bank loan.
Do note that you cannot switch to an HDB loan once you had selected a bank loan.

B) HDB loan is based on your eligibility and income to assess the amount of the loan. The only age limit is 65 yrs old.
It implied that the HDB might not provide any loan to someone who reached 65 yrs old or more.
(i) The loan tenure is 65-current age or lesser. So your loan tenure will be 17~18 yrs if you are eligible now, and 14~15 yrs when you reached 50 yrs old.
(ii) With a monthly income of $6.5k at age 47 yrs old, your loan is approximately around $300k. The loan amount will reduce to $260k when you reached 50yrs old and your salary remain at $6.5k.

C) Please refer to (B)(i) & (ii) to estimate your loan tenure and amount. The banks and HDB are using the MSR calculation to assess your loan.
This MSR is based on the standard provided by the MAS.

C) Using a general assessment, your maximum budget shall be OA + loan amount. But because every case is unique, individual risk acceptance is different. So it is very difficult to gauge over here.
You have to factor in the buyer stamp duty and legal fees which are the highest costs in the purchase.
Honestly speaking, I still have to spend many hours doing such calculations to advise each individual customer.
You also have to calculate the monthly mortgage to assess the impact on your monthly expenses.

D) You can use every dollar in your OA for the purchase before reaching 55.

E) Yes, you're eligible for the Single Citizen CPF housing grant of $40k.
Proximity grant of $10k if you are buying within 4km of your parents' premise, provided at least one of them is an SPR or SC.
The last available grant is the Enhanced Housing grant for lower-income buyers. The salary ceiling for such a grant is $4.5k for a single buyer, which you are not eligible for it.
And yes, all grants are only available after the 30-month wait-out period.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, 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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IF you Need Further Help For Property such as Renting / Selling / Buying or Investing ,...

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

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 9856 9255  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

IF you Need Further Help For Property such as Renting / Selling / Buying or Investing ,...

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

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 9856 9255  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