Feb 2015 BTO Launched!

[sannoh]

You can use this to have a gauge of the max loan HDB will give u, general rule of thumb is minus 10% from the results.

Enquiry on Maximum Loan

If you qualify for 5k AHG only, it means ur combined income is between 4501-5000.. If you ask me unless u have side undeclared income sources, it's probably too much for you..

Taking a 360k loan over 25 years, monthly repayment is $1,634

Taking a combined income of 5k, CPF O/A contribution is $1150

The financial commitment portion of the enquiry, is it necessary to declare? I found that if I declare, I'd be receiving less HDB loan.

So if a portion of 90% is paid by HDB loan, the remaining amount I need to pay in cash? And to pay of the hdb loan also uses cpf?

 

[Gixxerfied]

The financial commitment portion of the enquiry, is it necessary to declare? I found that if I declare, I'd be receiving less HDB loan.

So if a portion of 90% is paid by HDB loan, the remaining amount I need to pay in cash? And to pay of the hdb loan also uses cpf?

I would advise not to go for a almost 400k flat.. Ur combined IMHO isn't ideal for that.

Difference between approved loan amt vs remaining amt after CPF wipe out during key collection is to make top in cash.

Which area and what flat size u looking at?

There's another SHG grant which is for 4rm and below in non mature estate. Can combine with AHG..

Use CPF to repay loan, not enough then cash top up..

Have you or ur gf been in continuous employment for the past 12 months?

 

[d3n]

I would advise not to go for a almost 400k flat.. Ur combined IMHO isn't ideal for that.

Difference between approved loan amt vs remaining amt after CPF wipe out during key collection is to make top in cash.

Which area and what flat size u looking at?

There's another SHG grant which is for 4rm and below in non mature estate. Can combine with AHG..

Use CPF to repay loan, not enough then cash top up..

Have you or ur gf been in continuous employment for the past 12 months?

i concur... my combine salary higher than sannoh but i also dun dare to buy a 400K flat...

my May 2013 BTO flat only cost me 319K for a 4 room flat... my cpf can pay 1/3 already the rest will be loan.

 

[capri87]

Wanna ask about the continuous 12months employment.

For e.g, I have been working in the same company continuously for about 2yrs plus, but I intend to change job soon around June to Aug. And I may be applying for the May'15 BTO.

So my question is it have to be 12 months continuously with the same company? Or 12 months continuously working? What if there's a short break in between say 2 weeks (for finding new jobs) and land into another company? Will this still be considered 12 months continously?

 

[capri87]

About sannoh's case, if his combined salary is deemed risky to take on a 400K flat, can he rent out his rooms to help cover the monthly housing loan repayment? Will this be a solution?

 

[Gixxerfied]

Wanna ask about the continuous 12months employment.

For e.g, I have been working in the same company continuously for about 2yrs plus, but I intend to change job soon around June to Aug. And I may be applying for the May'15 BTO.

So my question is it have to be 12 months continuously with the same company? Or 12 months continuously working? What if there's a short break in between say 2 weeks (for finding new jobs) and land into another company? Will this still be considered 12 months continously?

Dont have to be with same company..

It works as long as you have straight 12 months of payslip and CPF contribution to prove..

So let say u apply for May 15 BTO right, they would need your May 2014 to Apr 2015 payslip..

 

[capri87]

Dont have to be with same company..

It works as long as you have straight 12 months of payslip and CPF contribution to prove..

So let say u apply for May 15 BTO right, they would need your May 2014 to Apr 2015 payslip..

Ahh I see.. Thanks Gixxerfied!

 

[Gixxerfied]

About sannoh's case, if his combined salary is deemed risky to take on a 400K flat, can he rent out his rooms to help cover the monthly housing loan repayment? Will this be a solution?

Why not?

But that only covers the installment portion. Nobody can guarantee rosy rental market for the next 10 years..

And that is of cos if his approved loan is enough to cover the remaining amount after CPF wipe out..

 

[capri87]

As long as one of the couple has 12 months continuous employment then can already right?

 

[Gixxerfied]

As long as one of the couple has 12 months continuous employment then can already right?

Yes..But both income would be taken into calculation..The other without 12 months got 6 months income also will be counted..

 

[capri87]

Why not?

But that only covers the installment portion. Nobody can guarantee rosy rental market for the next 10 years..

And that is of cos if his approved loan is enough to cover the remaining amount after CPF wipe out..

True also. I missed out the last part (balance payment after cpf wipe out)

 

[d3n]

Why not?

But that only covers the installment portion. Nobody can guarantee rosy rental market for the next 10 years..

And that is of cos if his approved loan is enough to cover the remaining amount after CPF wipe out..

hmm not sure if u can immediately rent out your BTO room...

 

[capri87]

Yes..But both income would be taken into calculation..The other without 12 months got 6 months income also will be counted..

U mean calculation for loan eligibility?

 

[capri87]

hmm not sure if u can immediately rent out your BTO room...

If I'm not wrong, as long as the owner is occupying the flat, u are able to. Renting out whole flat is prohibited

 

[Gixxerfied]

hmm not sure if u can immediately rent out your BTO room...

Room can..Not subjected to MOP..Whole flat is 5 years MOP,,

U mean calculation for loan eligibility?

For calculation of grants..

Example if the past 12 months,

A works for 12 months thus eligible at a monthly income of 2.7k and B works for a total of 6 months with a monthly income of 2.5k then it would be,

(2700x12)+(2500x6) / 12 = Amt used to determined grant category..

 

[Gixxerfied]

For those who wana monitor the application rates,

Number of Applications Received

 

[sannoh]

I would advise not to go for a almost 400k flat.. Ur combined IMHO isn't ideal for that.

Difference between approved loan amt vs remaining amt after CPF wipe out during key collection is to make top in cash.

Which area and what flat size u looking at?

There's another SHG grant which is for 4rm and below in non mature estate. Can combine with AHG..

Use CPF to repay loan, not enough then cash top up..

Have you or ur gf been in continuous employment for the past 12 months?

Im looking for a 4 room flat, most likely on the East of Singapore. Since its too expensive, if i were to get the queue number shall I reject? If i reject means that I'll be banned for applying any BTO for the next 1 year right?

 

[edesenjavier]

Im looking for a 4 room flat, most likely on the East of Singapore. Since its too expensive, if i were to get the queue number shall I reject? If i reject means that I'll be banned for applying any BTO for the next 1 year right?

1 time rejection = you can carry on applying.
2 time rejection = you can carry on applying but you will be under the second-timer category for a 1 year period.

 

[saffronsatire]

For those who wana monitor the application rates,

Number of Applications Received

ge 4rm ard 2.1x oversub. why am i surprised.

 

[Gixxerfied]

ge 4rm ard 2.1x oversub. why am i surprised.

I tot is why am i not surprised??