Asked by Anonymous
I am a first time buyer, planning to utilise family grant for resale flat. Would like to understand how loan is computed? A or B?
Buyer profile:
CPF: $80,000
Family Grant: $40,000
Applying HDB Loan.
Example A:
Flat purchase price: $800,000
15% Downpayment: $120,000
$120k can utilise CPF and Grant.
Example B:
Flat purchase price: $800,000
Deduct $800,000 from $80k (CPF) and $40k (Grant)
Balance: $680k
15% Downpayment: $102k
$102k cash payable after 85% loan from HDB.
Buyer profile:
CPF: $80,000
Family Grant: $40,000
Applying HDB Loan.
Example A:
Flat purchase price: $800,000
15% Downpayment: $120,000
$120k can utilise CPF and Grant.
Example B:
Flat purchase price: $800,000
Deduct $800,000 from $80k (CPF) and $40k (Grant)
Balance: $680k
15% Downpayment: $102k
$102k cash payable after 85% loan from HDB.
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