HLE enquiry

[tamtam23]

Not sure about HDB but for bankwise, they also only consider SG salary also. That said, you might wanna try applying with the banks to see if they can give you a higher loan quantum compared to HDB as well.

Hi all need an advice, I intend to buy a resale 2 bedroom unit under the Single scheme. As I am working overseas my salary is split in 2 location. When I apply for HLE the cpf grant is about $128k and not high to my expectations.

HDB called me to ask tons of questions about this split payment and I am thinking that they only consider the SG salary . Is it possible to “appeal” the application with HDB for their review again?

 

[Duncallmebro]

Just to check if my understanding of the financing is correct.

If my parents (not working) are applying for a BTO as a second timer

Assuming that resale levy is 40k and the price of the 2nd flat (400K) is higher than selling price of the 1st flat (350k)

(Price of 2nd flat + resale levy) - price of first flat = 90K

I don't see how they will qualify for any HLE

There is this shortfall of 90k. It must be paid in one lump sum? When is it expected to be paid?

 

[SkaterX]

HLE Too Low

So recently I encountered this issue with my purchase. I have been contributing to my parents place over the past 3 years and have already applied to remove my name from the property. Already applied for my BTO 4RM priced at $448,000

Spouse currently unemployed but joining the workforce again in January 2021 after my kid goes to school
BTO is ready in 2022-2023

We opted for staggered down payment because my CPF has not been refunded from my parents place. Just paid our 5% and the stamp duty fee. All settled.

Even calculating the new HLE amount we might get from HDB in 2022 when we re-apply with our projected salaries - Combined estimated $5.5k

Now the problem we have is that If we have a shortfall amount of $80k from our purchased price HDB requires us to pay this upfront in cash.

Has anyone run into this problem before ? Is there a way to appeal with HDB to get a higher loan amount or would I have to resort to a bank loan ? How could I solve this issue.

I understand that a bank only can provide 75% loan of the purchase price and HDB can provide a loan up to 90% of the purchase price. That was the reason I chose this unit..

 

[Gixxerfied]

You would get another HLE assessment before taking keys..

You can try appealing to HDB for higher loan amount but i dont think they will cover that additional 80k. Also you must remember that the max loan amount you calculate using their calculator and their resulting monthly installament is usually higher than your combined CPF O/A contribution.

Let me just do an example for you based on 5.5k estimate.
Max loan of 25 years and 363.7k

Monthly payment of $1650

Base on 5.5k combined monthly, $1265.17 goes into O/A. So cash top up every month is required.

Next to touch on bank loan, taking bank loan, hdb requires you to pay 5% of the purchase price in cash and 15% using CPF.

Next i would like to ask is how much combined CPF O/A you have now? And also hw much refund into CPF would you get from ur pullout from your parents flat?
Flat selling price of 448k - 5% staggered DP = 425.6k remaining.

 

[jcq0924]

Lower HLE loan amount 2nd time

Hi Guys,

I am in a fixed situation right now, and greatly appreciate some input into my case.

I applied for my first BTO as a divorcee with a child as occupier, and got a 4 room flat. The first HLE applied was approved with a loan amount $198,000, which is not enough to cover the purchase amount and also they did not give any grant. After my appeal, I was given a $60,000 grant but my HLE expired and I have to reapply. Now the shock moment come, the new HLE approved amount is only $99,000!!!!!

Everything else remain the same, my job, my salary, my CPF had more, everything the same. So what happen? To this moment, HDB had not replied to me. So hopefully, I can have some advise here. Thank you very much.

 

[Reavl]

Hello all,

I have question, lets say for example now i am currently working for already one year straight and my gf left her job 5 month ago. I know that if i apply HLE now, they will not take her previous salary as part of the calculation.
So lets say she found job, should i apply HLE once she found a job and appeal to HDB to calculate her new salary as part of HLE or should i wait for her to work 3 month then apply HLE.

And in the event if HDB grant the HLE base on mine salary only, is there a way to change the value after that when she already work for 3 month.

Thank you in advance.

 

[Gixxerfied]

Hello all,

I have question, lets say for example now i am currently working for already one year straight and my gf left her job 5 month ago. I know that if i apply HLE now, they will not take her previous salary as part of the calculation.
So lets say she found job, should i apply HLE once she found a job and appeal to HDB to calculate her new salary as part of HLE or should i wait for her to work 3 month then apply HLE.

And in the event if HDB grant the HLE base on mine salary only, is there a way to change the value after that when she already work for 3 month.

Thank you in advance.

Let say for BTO application which TOP a few years later, they will definitely ask you for reassessment especially if during application, your gf is not working.

And yes, would be better to assess after she works for 3 months. Alternatively if they somehow fail to flag u for reassessment before key collection, you can submit a request for them to do so due to changes in combined income.

 

[Reavl]

Let say for BTO application which TOP a few years later, they will definitely ask you for reassessment especially if during application, your gf is not working.

And yes, would be better to assess after she works for 3 months. Alternatively if they somehow fail to flag u for reassessment before key collection, you can submit a request for them to do so due to changes in combined income.

alright, thank you so much.
Will be going for resale also.

 

[Gixxerfied]

alright, thank you so much.
Will be going for resale also.

If resales, things can happen fast so i would suggest that you start looking when your gf is about to hit the 3 month mark of being employed.

 

[Reavl]

If resales, things can happen fast so i would suggest that you start looking when your gf is about to hit the 3 month mark of being employed.

okay okay thank you alot!

 

[Davo23]

Hi all,


I intend to buy a resale HDB and with regards to HLE 6 months validity, is it 6 months till I confirmed the flat with seller or 6 months till key collection?


Pls kindly advise.

 

[mousepad_88]

Anyone know if i can just apply for HLE(not buying house but for future ref) just to see how much loan HDB willing to loan me based on current income?

 

[simon_84]

Hi Guys,

I am in a fixed situation right now, and greatly appreciate some input into my case.

I applied for my first BTO as a divorcee with a child as occupier, and got a 4 room flat. The first HLE applied was approved with a loan amount $198,000, which is not enough to cover the purchase amount and also they did not give any grant. After my appeal, I was given a $60,000 grant but my HLE expired and I have to reapply. Now the shock moment come, the new HLE approved amount is only $99,000!!!!!

Everything else remain the same, my job, my salary, my CPF had more, everything the same. So what happen? To this moment, HDB had not replied to me. So hopefully, I can have some advise here. Thank you very much.

Erm maybe consider a 3r instead.
4r is somewhat tough for a single parent to bear even if you are in middle management roles.

 

[streamstyle]

Anyone know if i can just apply for HLE(not buying house but for future ref) just to see how much loan HDB willing to loan me based on current income?

U can use the hdb loan calculator to check

Sent from HUAWEI EVR-L29 using GAGT

 

[1993newbie]

Use this as a gauge


https://services2.hdb.gov.sg/webapp/BP27MaxLoan/BP27PMax1.jsp

Anyone know if i can just apply for HLE(not buying house but for future ref) just to see how much loan HDB willing to loan me based on current income?

 

[bigherosg]

Anyone know if i can just apply for HLE(not buying house but for future ref) just to see how much loan HDB willing to loan me based on current income?

Jus apply n see how much anyway no use if not buying cos yr financial may change in the future. Letter is only valid for 6mths according to date of letter

 

[bigherosg]

Hi all,


I intend to buy a resale HDB and with regards to HLE 6 months validity, is it 6 months till I confirmed the flat with seller or 6 months till key collection?


Pls kindly advise.

6 mths frm date of letter

 

[bigherosg]

Hello all,

I have question, lets say for example now i am currently working for already one year straight and my gf left her job 5 month ago. I know that if i apply HLE now, they will not take her previous salary as part of the calculation.
So lets say she found job, should i apply HLE once she found a job and appeal to HDB to calculate her new salary as part of HLE or should i wait for her to work 3 month then apply HLE.

And in the event if HDB grant the HLE base on mine salary only, is there a way to change the value after that when she already work for 3 month.

Thank you in advance.

HDB wont forget. You will be required to do another HLE

 

[bigherosg]

Hi Guys,

I am in a fixed situation right now, and greatly appreciate some input into my case.

I applied for my first BTO as a divorcee with a child as occupier, and got a 4 room flat. The first HLE applied was approved with a loan amount $198,000, which is not enough to cover the purchase amount and also they did not give any grant. After my appeal, I was given a $60,000 grant but my HLE expired and I have to reapply. Now the shock moment come, the new HLE approved amount is only $99,000!!!!!

Everything else remain the same, my job, my salary, my CPF had more, everything the same. So what happen? To this moment, HDB had not replied to me. So hopefully, I can have some advise here. Thank you very much.

Call Hdb n also email them to appeal. Last resort look for MP as election is coming. MP will write a letter on yr behalf to HDB. Do all tgtr as yr time is lomited

 

[mngedo]

Hi all, would like to ask if having a fixed monthly income is the main only criteria for HLE loan application? I know the answer is obvious, as in are there any exceptions? Eg: do they review your financial status, past employment history etc.

Reason is I have recently lost my fixed monthly income and HDB has to cancel my HLE application. As I will need to find a place to move.
I will need about 100K loan for financing.

Please share with me your thoughts.