HDB Questions

[sentsggirls]

Can summarise the total cost for 350K Bto with 40K grant

Downpayment
Loans interst
Stamp duty
And what else ?

So once Downpayment pay by cpf only
Need to fork out any hard cash upfront ?

 

[callmezehzeh]

Can summarise the total cost for 350K Bto with 40K grant

Downpayment
Loans interst
Stamp duty
And what else ?

So once Downpayment pay by cpf only
Need to fork out any hard cash upfront ?

Same question! And can the grants be used to pay for stamp duties etc too?

 

[randyz]

I do realise there are some people who go for expensive flats (more than $500k bto flats) and when the time comes, find that the monthly mortgage is too high.

For reference, 500k flat with 450k loan 25 yrs, around 2k monthly mortgage at 2.6%.

If 600k flat with 540k loan, 2.5k a month.

Think ahead.

Yes very true

 

[flashfire14]

From Cash to CPF Repayment

Dear all,

My wife and I got our 4 Room BTO at 308k, monthly repayment at $1230 in cash every month because both of us are self employed, no CPF coming in. We took a HDB loan.

Business hasn't been very good for us so while my wife still can run the business side of things I've to comtemplate getting a job, which of course pays CPF.

If I successfully land a job, is it possible to ask HDB to deduct my mortgage (at least part of it) from my CPF since my CPF is gonna be topped up now?

Thanks all for reading. Helps a bunch.

 

[Weeli85]

Just curious, I buy a resale flat and using PHG 20k grants to near my parents. The MOP requirement is 5 years + near parent 5 years = 10 years I cannot move out or purchase another flat? Or the 5 years include in the MOP?

 

[theblueark]

It’s the same 5 years. Your parents cannot move during those 5 years.

 

[sleepyhead03]

yup, you can apply to use your CPF to service the monthly mortgage payments via the CPF website!

Dear all,

My wife and I got our 4 Room BTO at 308k, monthly repayment at $1230 in cash every month because both of us are self employed, no CPF coming in. We took a HDB loan.

Business hasn't been very good for us so while my wife still can run the business side of things I've to comtemplate getting a job, which of course pays CPF.

If I successfully land a job, is it possible to ask HDB to deduct my mortgage (at least part of it) from my CPF since my CPF is gonna be topped up now?

Thanks all for reading. Helps a bunch.

 

[Weeli85]

It’s the same 5 years. Your parents cannot move during those 5 years.

Hi, I saw this agent link https://youtu.be/NNYYvlKhvOk
He mention me and my parents cannot move for 5 years.

 

[Pokémon]

Hi, I saw this agent link https://youtu.be/NNYYvlKhvOk
He mention me and my parents cannot move for 5 years.

The newly bought of course cannot move due to MOP of 5 years. It is the other party (your parents) who cannot move as well in the same 5-year period, even if MOP is not applicable (already completed).

In short, using the PHG, both house owners cannot move for the next 5 years. Period.

 

[Whisper]

For gross monthly income ceiling of $6k/$12k..does it include 13th month bonus and performance bonus?

 

[Weeli85]

For gross monthly income ceiling of $6k/$12k..does it include 13th month bonus and performance bonus?

Should be net pay (basic pay)

 

[Whisper]

Should be net pay (basic pay)

tks..glad that bonuses are not included..else I would hit the ceiling..

I read that when applying HLE need provide bank statements as well?

 

[Zetrio2006]

anyone managed to appeal? say parents have some unforeseen medical problems and would like to downgrade to a non-mature estate (which is not your current estate)?

If you have medical proof (HDB will ask for it), sure you can appeal this way.

 

[flashover]

I successfully appealed cos of my kids. Less than a year to MOP.

anyone managed to appeal? say parents have some unforeseen medical problems and would like to downgrade to a non-mature estate (which is not your current estate)?

 

[hwaa]

I successfully appealed cos of my kids. Less than a year to MOP.

think they are asking the parents side, whether can appeal anot.. not the main buyer.

more for resale peeps.

 

[BombVoyage]

hi, if i have already book a BTO unit, can i still bid for another BTO?

 

[ProLogic]

hi, if i have already book a BTO unit, can i still bid for another BTO?

Cannotch rah.

 

[hwaa]

Ya. Cause the MIL has stroke. Unforeseen. They never prepare for retirement (let alone medical bills - still think government paying all medical bills).

Thinking of downgrade the current flat (30 yrs old le) and get a 3 room bto at a non mature estate.

But our bto flat havent TOP yet... Bought under the MCPS scheme... We waited 4 yrs.... Hais.

did u try appeal?

we recently bought resale and locked in my wife's parents for 5yrs as well. now they are thinking or maybe wanna consider downgrading anot.

if they downgrade but still same area dunno can anot.

 

[ProLogic]

Just curious, I buy a resale flat and using PHG 20k grants to near my parents. The MOP requirement is 5 years + near parent 5 years = 10 years I cannot move out or purchase another flat? Or the 5 years include in the MOP?

Just 5 years rah.

 

[BombVoyage]

Cannotch rah.

haix.. sianz man.. the CCK one looks good and very very near my parent house...

if only it was announce earlier last year...