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Hi Eva,

Happy new year! Unfortunately you can only apply HLE from 26 Sept onwards. But based on the current info shared, your loan attainable should be approx $316k assuming you are on fixed income salary with cpf contribution, no other major loans on hand and good credit score. This plus your grants of up to $35k in total and CPF OA will mean you have a budget up to $430k without factoring in your cash savings available. You can kickstart the viewings around July since you are clear on the location you want.

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
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
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ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)

SMU BBM (Finance), Magna Cum Laude
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Contact: (+65) 97432395 
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Hi Eva,

Happy new year to you! As what Ivan has mentioned, you are only able to apply for HLE upon turning 35 years old, therefore all the relevant process can only commence then. In addition, the entire resale process will take at least 3 months to complete from the date your offer is accepted and that is bearing in mind that the seller of the property does not require any extension during or after the transaction. You will also need to look into the renovation timeline for you to plan out your purchase.

In terms of loan, the worked out loan eligibility is at $315,754 based on estimation with consideration of your $60,000 annual income, thus assuming that you are financing the purchase with minimal cash, the price range of the property you can look at can be in the range of up to $400,000 if you do not take up any housing grants and like what Ivan has mentioned, if you factor in the housing grants, it will be up to $435k range. Take note that the numbers are just an estimate,

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
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

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

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Hi Eva,

1) It is correct that you can only apply for HLE on 26 Sep 2023.
2) The system will check your eligibility to purchase an HDB flat when applying for an HLE.
3) You can only offer an OTP after getting the HLE.
4) Your estimated loan amount should be between $260k~$280k. Because the calculation of an MSR loan is based on monthly income. And I can't tell whether the $60k is inclusive of the 13 months AWS.
5) AWS is considered as other income and subject to a 30% haircut for the calculation thus can only provide an estimation.
6) You are entitled to a $25k Single grant. PHG of $10k shall depend on whether you are buying within 4km of your parent's residence. Since your estimated monthly income should be above $4.5k, you will not be entitled to the EHG.
7) HLE can cover 80% of the purchase price. I would suggest you set your budget within $380k. Anything higher would need to recalculate to ensure that your CPF is sufficient to cover your buyer stamp duty.
8) I would suggest you prepare to extend your rental for another few months in case the unit you prefer need an extension of stay.
9) The number of 3-rm flats in Hougang is quite limited, there are more 4/5 rooms flats in Hougang than 3-rm flats.
10) You may start your home search 2 months before your birthdate, but remember that you can only offer for the OTP after receiving your HLE.
11) Your timeline should look like this:
26th Jul: Seach and view
26th Sep: apply HLE
10th Oct or earlier dependent on HLE approval: offer for OTP

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 query, 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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I would be glad to assist you.
Feel free to contact me at 97100155  .
Hope to hear from you soon.
Pei
Associate Group Director
Propnex Realty Pte Ltd

https://linktr.ee/peiproperty
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We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us! Read More