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We just sell our 5-room flat and planning to downgrade. My husband being the sole breadwinner, is 50 y.o and self-employed with monthly income of $3000. We do not hv kid & no car. If i were to buy a flat at about range of $220K - $280K direct from HDB, as a first-timer to loan from bank, can we get loan amt up to 75% of the flat purchase?
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2 Answers

Hi Mdm,

Yes you will be able to loan up to 75% of the purchase price. The balance will consist of 5% cash and 20% CPF.

You may want to consider taking a loan from HDB so that you can minimise your cash outlay. Please feel free to contact me so that I can help you assess your financial situation and provide you with more informed recommendations.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

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Susana (Buyer) Read More
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Hi,

1) According to MSR calculation, assuming 15 years loan tenure and haircut. Your husband maximum loan amount is approximately $26k.
2) As long as you do not have outstanding housing loan, you are eligible for max 75% loan. However, it is solely dependent on income to determine the amount.
3) Anything shortfall has to top up using CPF/cash.
4) There are no priority or priviledge offer by bank for 1st time applicant.

Good news is May BTO/SBF flat is available now for your selection. You may copy and paste the link provided on your browser to see anything catch your interest:
HDB Launches 6,753 Flats in May 2019 BTO and SBF Exercise
http://www.hdb.gov.sg/cs/infoweb/press-release/hdb-launches-6753-flats-in-may-2019-bto-and-sbf-exercise

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

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