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Property Wanted.
Hi there.
I need help.
My fiance and i are looking to buy either a resale HDB flat or a 2 bedroom condominium around D03-D10 (Alexandra, Commonwealth, Queenstown, Holland)
Our gross combined monthly income is $11,000-$15,000.
We do not qualify for HDB loans or Grants (because apparently we earn too much).
The problem is, we also just started working and we do not have enough cash savings for Cash Over Valuation or Downpayment.

Ideally, We would like the keys to our flat by April 2012.

May i know if it is possible to have a loan approved for downpayment/COV amount?

Which purchase is wiser for our situation? Condo or Resale HDB?

thanks!
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2 Answers

Hi Aidan,

The choice between buying a resales HDB and private condo is quite different.

With the new ceiling for EC, have you consider that option? Is it because you would like to have the unit as per stated timeline? Otherwise, buying a new project condo that is under construction (BUC) is another alternative as the payment is progressive.

Strongly suggest that you go through your finance situation prior to any search. You may wish to speak to a banker to understand what is the likely loan amount that you would get so that you could know, based on the funding available, the type of dwellings that you should hunt for - to avoid a wild goose chase.

Feel free to contact me should you need further assistance @ 91854434  or ctw4393@yahoo.com.sg.

Best regards,
Chin TW
Salesperson Reg No : R022043H
DTL Property Network Pte Ltd
Agency Licence No : L3007960A Read More
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The S&P process needs careful and confident planning in financial, timeline and checklist especially HDB, CPF, bank and lawyer etc. Recently my client 'suddently' bought a dream condo while 'holding on' to a HDB flat. They needed the extra 'funds' for the condo. Hence, after a series of planning, discussion and deliberation, they finally decided to sell their HDB unit. Engage an agent if you expect a consistent S&P process. The stress relief effort is enormous and the commission is insignificant. Check this site: www.catherinepang.com Read More
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