2 Answers

Alvin Toh
Replied
Hi,

Understand your situation where you are receiving many conflicting opinions on this. For your situation, as your joint income is $13K, you will not be eligible for the HDB loan and to BTO. You will only be able to get a bank loan

For bank loan, max loan will be 75%. 20% (CPF/CASH) and 5% (CASH OUTLAY) has to be provided. Upfront payment would be 5% cash in this case if you and your husband has 20% that you can pay in CPF.

Hope this helps!

Please feel free to contact me at 97403994  for a non-obligatory discussion. Thanks!

Best Regards,
Alvin Toh
ERA
 97403994 
alvintoh.era@gmail.com Read More
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Ling CK
Replied
Hi,

1) New flat (BTO)
Your household income exceeded $12k, thus you are not eligible to apply for BTO.

2) EC
Your household income has not exceed $14K, you are eligible to apply for EC.

3) Loan:
a) HDB loan: This type of finance assistance only eligible for household income less than S$12k. You are not eligible.
b) Bank loan: You are only able to get finance assistance from bank. Maximum loan is 75%. The other 25% split into 2 portions; cash: 5%, CPF and/or cash: 20%.

4) Resale HDB
You may purchase any type of resale HDB flat, no restrictions on type and size.
The $5k option + exercise fee forms part of the 5% cash portion.

You did not provide any info on CPF, thus unable to advise further.

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
https://www.facebook.com/Homesellerbuyer

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