AskGuru Q&A Community

Hi
Yes you can get 90% financing as a Singaporean through HDB loan. However you are right in the sense that your spouse income will not be taken into consideration for loan assessment purposes as she is a foreigner (unless she is a PR). This is because a foreigner is not allowed to own a HDB and if you purchase a HDB together with her, you are considered the sole owner of the house while your spouse is only an occupier. However as a first timer, you are also eligible for first timer grant which is usually half of what those full SC couples are getting. I have assisted a few SC-foreigner couples in securing their first home and even assisting them to apply for first timer grant to enable them to increase their budget by a bit. I am also very specialised in HDB transactions. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Yup I'm afraid you're right. Just assume all is 50%. Grants are 50% and your loan is 50% meaning just you only.
Maybe a 3 room for now is not such a bad idea... Lesser burden monthly.
Hope it helps !

- Hakim Realtor
property@hakim.sg
 9144 9841  Read More

Hi,

Yes, you will be able to get up to 90% financing via HDB loan. Take note it's "up to". How much loan you can get is still dependent on your Mortgage Servicing Ratio (MSR), which is calculate from your income and your age.

As your spouse is a non-Citizen, only your income will be taken into consideration for loan purposes. This is because foreigners is not allowed to own HDB flats.

If your spouse draws a good income, you could consider private housing, where both your incomes will be taken into consideration for loan purpose under TDSR instead of MSR. This will likely mean that you can have a bigger budget for your purchase. You will also qualify for ABSD remission as a first matrimonial home.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More