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Good morning,

Given your income status, HDB should be able to loan you around $120k. Hence in order to purchase a 4 room flat, your CPF need to have around $170k as you will be eligible for single grant of $15k and possible AHG of around $7.5k.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi homebuyer,
Direct to your query, the age of Hdb flat should not be more than 64yrs (bank loan restriction kicks in, can't get 80% loan) and less than 69 yrs (can't use CPF).

In addition, to use your CPF, then the HDB should be less than 45 yrs (the rule book says flat age + your age < 80).

As for bank or Hdb loan, it very much depends on individual needs n finance status. In general, other than comparing interest rates (generally, bank loan interest rates look better), other considerations may be:
1) down payment (use bank then u need pay 5% in cash, and Hdb loan allows u to use CPF)
2) Lock in period: bank typically locks in 1-3 yrs whereas HDB no lock in (meaning if us strike 4D or toto, can repay in full Read More