Jan 2013 BTO

[xtwis7]

That's true... or maybe they are expecting their future income to increase as you only need to start paying your loan when you get the keys in 4 years.

That's expected. But that's a very big WHATIF. Market crash how? Instead of salary increasing, it would be terrible if it actually goes down or worse, losing your job. Me and my gf earn abit more than $5k combined I calculate can barely afford the loan for a flat just under 400k without using cash, mthly repayment is about 1.3-1.4k.

 

[bighead9n]

I am a first timer and i got it for first time with my girlfriend in (sept 2012) tampines BTO.... can consider myself a SIBEI HENG.... good lucks to other first timer too!

 

[Think09]

All the rich people. Must be earning close to 10k is it. No way a couple earning $5k can afford the loan without top up in cash.

Like recently paper say.quite a number of younger loan from their parent to pay for the house.I think sunday paper report.

 

[shootingstar88]

just a quick question...

as a first timer applicant, i applied for my BTO(assuming 400K).
i got HLE for 300K, the balance of 100K i have to topup straight away? or could i proof that i have the 100K in the bank(fixed deposit)?

pardon me on the financial part. new to these hdb things.

mai kan chiong. there will be 2nd assessment nearing the collection of the keys...

 

[highlader]

That's expected. But that's a very big WHATIF. Market crash how? Instead of salary increasing, it would be terrible if it actually goes down or worse, losing your job. Me and my gf earn abit more than $5k combined I calculate can barely afford the loan for a flat just under 400k without using cash, mthly repayment is about 1.3-1.4k.

There is option to choose non-mature estate which would cost lesser. Easily 300k for a 4room.
Live within affordable means. Dun strain too much.
If retrenchment really comes, do you have enough to tide over or got to surrender back to hdb?

Applied for HG. Calculated monthly base on 30 yrs is 50% of our combine CPF OA contribution. Which leaves 50% as backup. If nothing goes wrong, can full settlement in 10 - 15yrs. And also, I have set aside 20k of CPF in investment 8yrs ago, getting ready to transfer back to my a/c once hdb wipe out my cpf and that can last about 2yrs.

Buying a home is a very expensive thing. Got to do proper financial planning. Location is fine as a person can practically access 90% of singapore with public transport.

Now only hope can get a good Q number. Currently the ratio is 1.0 for First timer and its only mid of Day 2... jialat..

 

[rollbread]

Guys, for example I'm taking a $500k new flat but based on the calculator on HDB website, my pay its not enough to loan $500k. Then will the first HLE be approve? Cuz by the time 4 years later my pay will surely be enough to take up the $500k loan.

 

[bighead9n]

Guys, for example I'm taking a $500k new flat but based on the calculator on HDB website, my pay its not enough to loan $500k. Then will the first HLE be approve? Cuz by the time 4 years later my pay will surely be enough to take up the $500k loan.

It is depend on the luck..... i apply for a new flat (in tampines *GOOD PLACE*) worth around 230k - 250k and HLE give me more than enough around 350k. || why not try something lower than 500k?

 

[bighead9n]

Like recently paper say.quite a number of younger loan from their parent to pay for the house.I think sunday paper report.

for me, if i and my GF can afford a flat (my income not really HIGH like the rest of you all)... i won't need to put burden on my aged parents already.

 

[Stevi_Boi]

It is depend on the luck..... i apply for a new flat (in tampines *GOOD PLACE*) worth around 230k - 250k and HLE give me more than enough around 350k. || why not try something lower than 500k?

i also hope HLE can approve me 350k....
fingers crossed...really.

 

[xtwis7]

There is option to choose non-mature estate which would cost lesser. Easily 300k for a 4room.
Live within affordable means. Dun strain too much.
If retrenchment really comes, do you have enough to tide over or got to surrender back to hdb?

Applied for HG. Calculated monthly base on 30 yrs is 50% of our combine CPF OA contribution. Which leaves 50% as backup. If nothing goes wrong, can full settlement in 10 - 15yrs. And also, I have set aside 20k of CPF in investment 8yrs ago, getting ready to transfer back to my a/c once hdb wipe out my cpf and that can last about 2yrs.

Buying a home is a very expensive thing. Got to do proper financial planning. Location is fine as a person can practically access 90% of singapore with public transport.

Now only hope can get a good Q number. Currently the ratio is 1.0 for First timer and its only mid of Day 2... jialat..

Do you think many Singaporeans want non-mature estate? This brings me back to my previous rant about the system. If I were to apply with my gf, we are not eligible for the AHG. Neither are we very comfortable with paying off the loan using just CPF. Yet, govt is calling for couples to get married and have babies. Can barely afford a roof over our heads how to afford a third person coming along in the family? Then again, I believe some people don't think this far.

 

[Think09]

Do you think many Singaporeans want non-mature estate? This brings me back to my previous rant about the system. If I were to apply with my gf, we are not eligible for the AHG. Neither are we very comfortable with paying off the loan using just CPF. Yet, govt is calling for couples to get married and have babies. Can barely afford a roof over our heads how to afford a third person coming along in the family? Then again, I believe some people don't think this far.

they also want near mrt, want high floor, want view.

 

[rackun]

Buy BTO, combined salary above 5k smlj grant also dun have.
Buy DBSS, EC - got grants.
Conclusion, those combined salary above 5k but cannot afford DBSS, EC dun deserve any grant.

 

[edesenjavier]

Hi UpperCut!

Haven seen u involved in the forum lately.
Have a question to ask.
Lets say I given up on picking a flat once due to lousy ballot no. This time around, I would be applying for the jan bto. Like u said, apply for mar bto as well. Say I got a lousy no. For jan bto, and my appointment date is way after the release of Mar bto. In mar, I got a perfect ballot no . But the appointment is after that of jan bto. Therefore, I have to give up jan bto while holding on to mar appointment. Is this allowed? Bear in mind I given up once on not picking a flat.

Please help if any of u know or is in the same situation as me. Thanks!

Yes dun worry, this is definitely allow. =)

 

[xtwis7]

Buy BTO, combined salary above 5k smlj grant also dun have.
Buy DBSS, EC - got grants.
Conclusion, those combined salary above 5k but cannot afford DBSS, EC dun deserve any grant.

And that is easily 20-30% of the people. Govt should be targeting such people. I will never ask my parents for money to get a EC. Even if I take a larger loan than I can manage, I will find ways to pay it off rather than taking the easy way out and reach out ask for money.

That's why I most dulan the grant, between my 2 buddies. He grad alr but gf working more than 1 yr plus so can take full advantage. Everytime we tell him want apply faster go apply and take advantage, if not like us, simi ma bo.

 

[OreO84]

Guys, for example I'm taking a $500k new flat but based on the calculator on HDB website, my pay its not enough to loan $500k. Then will the first HLE be approve? Cuz by the time 4 years later my pay will surely be enough to take up the $500k loan.

It is depend on the luck..... i apply for a new flat (in tampines *GOOD PLACE*) worth around 230k - 250k and HLE give me more than enough around 350k. || why not try something lower than 500k?

i also hope HLE can approve me 350k....
fingers crossed...really.

HLE granted is based on your income at the point of application. A combined salary of 3.5k would be able to get around 350k of HLE approved, so you can agar-agar know how much HDB will grant for your HLE.

dont worry if you bought a 700k flat but your current HLE approved is 300k. As long as you earn more than 7k when you get your keys 5 years later (i.e. 2nd HLE assessment), you will be able to collect your flat.

As some bros pointed out, if you buy a flat which you cannot afford next time, you probably have to forfeit it coz you cant get your HLE

 

[wwwwwQ]

Buy BTO, combined salary above 5k smlj grant also dun have.
Buy DBSS, EC - got grants.
Conclusion, those combined salary above 5k but cannot afford DBSS, EC dun deserve any grant.

Ya lor, now combined salary above 5k but not enough to buy DBSS/EC become the new sandwich class. si mi grant mah boh

 

[3G SAINT]

Ya lor, now combined salary above 5k but not enough to buy DBSS/EC become the new sandwich class. si mi grant mah boh

I have already said local or single in sg treated as 2nd class citizen but new citizen can have grant

 

[slothbal]

Yes dun worry, this is definitely allow. =)

Hi, actually I called hdb this morning. They said if that's the case march bto I would b considered 2nd timer as I rejected jan bto. Thanks for input!

 

[Stevi_Boi]

mai kan chiong. there will be 2nd assessment nearing the collection of the keys...

so in short, 1st assessment(short of 100k) then wait for 2nd assessment(earning at a higher income) then they assess again...

IF after 2nd assessment, still short of 40k then topup with CPF &/or Cash right?

1st assessment short of 100k, still can wait till 2nd assessment?

sorry, i'm abit long winded. need to clarify my doubts.

 

[Stevi_Boi]

HLE granted is based on your income at the point of application. A combined salary of 3.5k would be able to get around 350k of HLE approved, so you can agar-agar know how much HDB will grant for your HLE.

dont worry if you bought a 700k flat but your current HLE approved is 300k. As long as you earn more than 7k when you get your keys 5 years later (i.e. 2nd HLE assessment), you will be able to collect your flat.

As some bros pointed out, if you buy a flat which you cannot afford next time, you probably have to forfeit it coz you cant get your HLE

so assume first HLE assessment(short of 100k), no need to topup cash/cpf?

can wait till second assessment if still short of 40k, then topup with cash/cpf?

pardon me. thank you.