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i am a first time buyer to HDB Flat and i do not own any other property.
I am looking to buy a over 30years old flat as the layout fancies me.I am buying with my spouse .Combined income: 7k/mth.We are both Sporean.

a)Is there any restrictions on the number of years i can get the loan given the age of the flat
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2 Answers

Mike Lim
Replied
Morning Alvin,

With your combined income, you are eligible for HDB loan and housing grant. As for the number of years, it would be dependent on both your age. As for HDB loan, the max period you can loan is till age of 65 or 30 years, whichever is shorter.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
R026708F
ERA Read More
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YT Tan (陈永达)
Replied
Hi Alvin,

The duration of loan will be based on the lower of:
a) 65 years minus your age
or
b) 30 years.

You can apply for both HDB or bank loan.

HDB loan - 10% downpayment (can be financed by CPF) and 90% HDB loan

Bank loan - 20% downpayment (5% cash, 15% CPF) and 80% bank loan

Housing grant for family? No issue at all.

Hope I can assist both of you with your property purchase. Feel free to contact me if you have any doubts.

Warmest Regards,
YT TAN
District Consultant
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More
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