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Hi

It would be good if you can write to gavin.ng@orangetee.com. This is because there are other needed information before I can answer specifically to the questions instead of making lot of assumptions.

Gavin Read More

Good evening buyer,

Happy 2018 to you!

By the way do take note that you will have to dispose off your private property and observe 30 months waiting period first before you are eligible to apply BTO or EC.

To be eligible for first timer housing grant like special housing grant, your combined income cant be more than $8500. If want to tke additional housing grant, it cant be more than $5000.

If based on total debt servicing ratio, it will be $2800 if debt free.

Perhaps you can share more with me so I will be in a better position to value add further in your property needs. We can meet up and discuss over a cup of coffee.

Hear from you soon!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

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Good evening,

If you have a condo then purchase HDB unit, you will be required to relinquish the condo within 6 months from key collection. However, depending on when the condo had been purchased, you might be liable for SSD and bank penalty charges.

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
With more than 10 years experience on all S&P cases, along with knowledge related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
4) Divorce
5) Bankruptcy
6) Purchase of HDB after Retirement Age

You can be sure that your concern and doubt will be cleared. This would allow you to move forward in one of your life's most rewarding decision with ease of mind. Read More

Dear Sir/Mdm,

Congrats on your upcoming property purchase.

Allow me to address your few concerns above.

Yes, you can ONLY buy for resale HDB even you have a condo on hand. However, you are required to dispose your condo within 6 months upon collecting your HDB keys.

As for BTO/EC New Launch Flats, you need to sell off your condo in advance and serve a observation period of 30 months before apply for BTO /EC through HDB. This is very important as your BTO application will be rejected.

As for HDB Grants, You are still eligible for First-timer HDB grants if this is your 1st Subsidized Flat. Your Housing grants eligibility is closely dependent on your incomes status.

Please refer to the link below to check your eligibility:
http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/first-timer-applicants

Do give me a call if you need further explanation.

Lastly,
For a monthly mortgage payment of $1680/-, you need to have at least $2800 monthly salary (if under employment status).

This is based on the current TDSR (Total Debt Servicing Ratios) of 60%

This is taken into consideration that you have none monthly liability such as car loan, credit instalments.

If self-employed/commissioned-based, your salary will have to further haircut of 30% which will require your monthly salary to be around $6000/-.

The above numbers are just only estimated as more information are required for us to advice.

It is best you check with your banker for more accurate calculations. Do let me know if you need one. I can recommend our regular bankers we work with.

Hope the above address to your concern, but if there are more queries, please feel free to call/WhatsApp me at 9366 1846  , or email: shawnkhooch@gmail.com if more information is needed.
I’m obliged to assist your needs.

Warm Regards,
Shawn Khoo
PNG Propnex
BA Design (Hons), DIP Architecture

Email: shawnkhooch@gmail.com
Contact: (+65) 9366 1846 
Whatapps: (+65) 9366 1846 
Facebook Page: www.facebook.com/shawnkhoo
Website: http://www.shawnkhoo.com
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB Sengkang 4rm Landlord Ms Lim--

We approach Shawn to rent out our unit because he is always present in my area, through flyers and road show. He secured our tenant with my expected rental within 2 weeks of marketing and handle all the necessary arrangements. It was a hassle-free experiment for us. Currently, we are getting him to renew our tenancy with the existing tenant.

--- First Time Executive Condo Buyer Mr. & Mrs. Soo ---

We are referred to Shawn by our friend who bought a resale HDB through his services.

At that time, we are pondering whether to buy a resale or BTO. Shawn professionally explained the pros/cons on all possible options. We finally decided to buy a EC after he gone through the financial calculations with us.

We have since moved into our EC and very happy with our new home. Good Job, Shawn

-- HDB 3-rm Sellers Mr. & Mrs. Ang --

We have engaged the services of Shawn Khoo for sale of our flat at Whampoa. We previously faced issues selling our unit. Shawn clearly explained how he is going to market our unit.

Shawn is hardworking and committed to his work. He run Open-House for our unit every week and update us on the status regularly.

We managed to sell our unit within a short period of time. Thanks, Shawn Read More

Hi,

(1) If you buy a condo now.
(a) You are not allowed to apply for HDB if you are referring to new HDB or BTO/SBF.
(b) You may buy resale HDB after purchasing a private property, but has to dispose off private property within 6 months.
Do note that there are SSD (within 3 years) and bank early termination of mortgage loan penatly as well.
(c) You may only apply for BTO/SBF after 30 months of disposing the private property.

All-in-all, you still eligible for grants.

(2) "1st-timer HDB grants" is not a standard term used.
The current grants available for 1st timer for new flats are as follow:
CPF Housing Grant - 1st timer is known as AHG & SHG
(i) AHG: Additional CPF Housing Grant:
Household Income ceiling is $5k to be eligible, max grant amt is $40k (less than $1.5k income)
(ii) SHG: Special CPF Housing Grant:
Household income ceiling is less than $8.5k, max grant amt is $40k (less than $1.5k income)

(3) The other type of grants available for 1st-timer buying resale HDB flats are:
(a) Enhanced CPF Housing Grant (Up to $40k or $50k dependent on type of flats, income less than $12k, but must in family scheme w/1x SC + 1x SPR)
(b) Additional CPF Housing Grant (Up to $40k, also less than $1.5k income)
(c) Proximity Housing Grant (Up to $20k, must in family scheme, Single Citizen scheme has to take note of siginificant difference in the scheme)

(4) Do note there are 2 types of financial assessment regulated by MOF; MSR & TSDR
(a) Private property use TDSR, 60% of monthly salary can be use for property mortgage; your monthly salary has to be $2,800.
(b) Buying HDB use MSR, 30% of monthly salary can be use for property mortgage; your montly salary has to be $5,600.
The above is just a simple calculation for your understanding. The actual assessment must be done by banker or HDB to be exact.
As the detail assessment also consider your age, current financial commitment, any variable income etc.

Hope the above answer to 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

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