vinz
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Based on your combined salary and the financial commitment you have monthly.How does HDB determine the max amount of loan we can take?
To be very sure, apply for a HDB LOAN ELIGIBILITY letter (HLE).
It's free. And better be sure then to guess how much your max loan will be.
Pls click : Application For HDB Loan Eligibility(HLE)
As above, the loan is determine by your salary and commitment, and not by HOW MUCH YOU NEED you will get.If we want buy a resale at 700K and can down 300K does that means we can take 400K loan from HDB? Or is there a cap?
If taking HDB loan they will wipe out all your CPF in ordinary account as downpayment.For CPF, can we wipe out our CPF for the downpayment as well?
For bank loan you can determine the figure you want to use as long as you have enough to pay for 20% minumum downpayment.
(5% of this 20% will be in complusory cash)
vinz