HDB Essential-Occupiers Scheme

[NeedHeIp]

Does anyone know more information about it?

HDB's website doesn't seem to have much information regarding it.

Basically with this scheme a couple can avoid ABSD when MOP is up?

 

[yoongf]

https://heartlandboy.com/owner-essential-occupier-scheme-hdb-flat/

 

[Polar Bear King]

https://heartlandboy.com/owner-essential-occupier-scheme-hdb-flat/

Don’t think it can work
Like that I could use my own name to apply and put aunty polar as essential occupier
I thought HDB require a family nucleus to apply or singles above 35

Why don’t we look at how to sell 1 HDB buy 2 EC instead?

 

[NeedHeIp]

Don’t think it can work
Like that I could use my own name to apply and put aunty polar as essential occupier
I thought HDB require a family nucleus to apply or singles above 35

Why don’t we look at how to sell 1 HDB buy 2 EC instead?

Actually after I posted I went ahead and asked my friends who're working in HDB, they said it's possible but your loan/grant profile will only be based on the OWNER, the occupier is just there to form the nucleus required to apply for the house.

 

[Hellotherethere]

Does the income of the occupier affect the household income computation for government grants?

 

[Polar Bear King]

Actually after I posted I went ahead and asked my friends who're working in HDB, they said it's possible but your loan/grant profile will only be based on the OWNER, the occupier is just there to form the nucleus required to apply for the house.

Theoretically possible
But practically very hard
Aunty polar wouldn’t be able to sleep if her name is not listed as owner

 

[Polar Bear King]

Does the income of the occupier affect the household income computation for government grants?

Should be only owner

 

[NeedHeIp]

Does the income of the occupier affect the household income computation for government grants?

Nope, but take note that your HLE will only be based on the OWNER's income.

 

[NeedHeIp]

Theoretically possible
But practically very hard
Aunty polar wouldn’t be able to sleep if her name is not listed as owner

Yeah this is also a major consideration as the occupier technically have no share of the house.

 

[Polar Bear King]

Well then if housewife no salary no income how to get loan to buy 2nd property leh?
Won’t affect most people gar lar
On paper is feasible but in practice seldom usable

 

[Polar Bear King]

Yeah this is also a major consideration as the occupier technically have no share of the house.

What if both earn $13k monthly?
Can still apply for HDB this way?
Use 1 head $13k as income to pay for HDB
the other head as occupier

 

[NeedHeIp]

What if both earn $13k monthly?
Can still apply for HDB this way?
Use 1 head $13k as income to pay for HDB
the other head as occupier

I tried to input the numbers into HDB loan calculator and it seems that even though the occupier's income is not relevant with regards to the loan/grant, but income ceiling is still there. Hahaha

 

[Polar Bear King]

I tried to input the numbers into HDB loan calculator and it seems that even though the occupier's income is not relevant with regards to the loan/grant, but income ceiling is still there. Hahaha

Therefore really no point
Not a Sensical lobang

If the no income person is cash rich then he better doesn’t waste time on HDB go direct to fry condo better

 

[Pokémon]

What if both earn $13k monthly?
Can still apply for HDB this way?
Use 1 head $13k as income to pay for HDB
the other head as occupier

No, the ceiling is based on household income.

 

[Polar Bear King]

No, the ceiling is based on household income.

Yar lor
So if income within ceiling
Then the loan max out probably need both heads so must list as both owners
Max out loan get the biggest best 5rm then MOP up can sell off for a million mah
Don’t think about decouple

 

[NeedHeIp]

Yar lor
So if income within ceiling
Then the loan max out probably need both heads so must list as both owners
Max out loan get the biggest best 5rm then MOP up can sell off for a million mah
Don’t think about decouple

Think people that can really make use of such scheme probably won't sell their HDB but instead buy a new priv property and live in it without being slapped 12% for ABSD and at the same time can rent out their HDB to cover mortgage.

 

[Sinkie]

Theoretically possible
But practically very hard
Aunty polar wouldn’t be able to sleep if her name is not listed as owner

Put aunty polar as sole owner, then you as occupier

 

[NeedHeIp]

Put aunty polar as sole owner, then you as occupier

then it'll be his turn to have insomnia

 

[Sinkie]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

 

[NeedHeIp]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Theoretically speaking I think you can? But you'll have to factor in the resale levy from selling your first BTO as well as accrued interest from your CPF.

- After selling 1st BTO, purchase 2nd under Essential-Occupier scheme, using wife's profile for loan, husband occupier.

- Purchase priv property using husband's profile without paying ABSD.

i might be wrong about this though.