Hi
Yes. You can use the first timer grant as a form of deposit (10% required for HDB loan). For 4 room flat and below, you are eligible for a family grant of $50k. For EHG grant, you might be getting an additional grant of $40k based on your pay of $5 per month. Therefore you will received $90k grant excluding $20k PHG grant where you are eligible only if you purchase a flat within 4km from your parent's house. From the figure above, excluding PHG grant and taking into consideration your OA savings, you might be able to comfortably purchase a flat (without topping up cash for your monthly mortgage), of up to $340,000. However if you consider to take up the maximum loan quantum and willing to top up cash for your monthly mortgage, I estimated that you might be able to purchase a flat up to $500,000. It is quite difficult for me to break down the figures over at this forum. For more details on this, do contact me at
93375051
for a free and non obligatory discussion on this. I am both specialised and well versed in HDB market.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd
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