Hi Mr. Ong,
Its possible to include his name for the HDB, but you have to apply that with the HDB Branch. As for HDB loan, the gross monthly household income cannot exceed 12k/month and all the owners cannot have taken HDB loan more than 2 times in their lifetime. These are the main eligibility conditions.
If they are fulfilled, based on the numbers shared, it shouldn't be an issue for the 150k hdb loan. Only the owners can use their OA to service or fund the flat, hence once your son name is included, his CPF OA can be used.
Alternatively, you might want to consider down-sizing so the retirement plan is more secure. If and when your son is settling down in the future, if he intends to get his own place, his name will also need to be withdrawn eventually, where the current same issue will arise as well.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact:
(+65) 97432395 Facebook Page: www.facebook.com/ASAProp
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(Client's Testimonials)
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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --
Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.
Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.
Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.
--- HDB Flat Upgraders Mr. & Mrs. Lee ---
We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.
He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.
When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.
Thanks Ivan! :)
-- HDB 5-rm Sellers Mr. & Mrs. Ting --
We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.
He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.
He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.
Thanks, Ivan. Keep up the good work!
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