HLE enquiry

[AndRiy80]

Hi all..

My 1st HLE application managed to get 159k,which is insufficient. Back then my husband was working as a sub-con with fixed mthly payments but no CPF contribution.

Since then, my husband has found a higher paying job with CPF contributions and there has been an increase in my pay as well.

Our bto probable completion date is May 2019. I will be getting an increment in April 2019. Should I reapply HLE now or after my pay increment in April?

Is there any hope of HDB loan of 300k?

There is a need to re-assess hle few months b4 key collection

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[EastSide_Monster]

Guys. Let's say my wife and i have a grant of $35k and we select a flat that cost $300k, and our HLE is $265k. Does it mean we no need to pay cash upon key collection since total amount is covered by HLE and Grant?

Additionally, if let's say HLE + Grant does not cover the total cost of our flat, maybe we are short of 20k. But we have 20k in our OA, does it mean we don't have to pay cash as well?

 

[Iamafan]

Hi all..

My 1st HLE application managed to get 159k,which is insufficient. Back then my husband was working as a sub-con with fixed mthly payments but no CPF contribution.

Since then, my husband has found a higher paying job with CPF contributions and there has been an increase in my pay as well.

Our bto probable completion date is May 2019. I will be getting an increment in April 2019. Should I reapply HLE now or after my pay increment in April?

Is there any hope of HDB loan of 300k?

Higher pay as in what range?

 

[Dusty1988]

Higher pay as in what range?

Now combined is 8.5k... can get a loan of 300k?

 

[believe88]

Now combined is 8.5k... can get a loan of 300k?

of course. 500k also can

 

[jianhui1982]

of course. 500k also can

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

 

[laccas]

Sure can, if it's fixed income

Now combined is 8.5k... can get a loan of 300k?

 

[Ch3tah_39]

So for resale, everytime we view the flat, the seller agent keep asking hle done? Means I need to renew every 6mths? Or is it possible to reapply at the time i found a flat that i like?

 

[Dusty1988]

How accurate is the loan estimate enquiry on the hdb website?

 

[mun_hoe]

So for resale, everytime we view the flat, the seller agent keep asking hle done? Means I need to renew every 6mths? Or is it possible to reapply at the time i found a flat that i like?

cos agent dun want all parties to discuss till OK ON liao halfway buyer part got cockup with obtaining loan then end up the salesperson deal pichak gotta restart again and worse case scenario OTP lapsed. it is prudent to have HLE ready even before scouting a unit cos if nothing changes in the employment or income status of the couple, it's just a renewing formality to be updated to HDB.

 

[mun_hoe]

How accurate is the loan estimate enquiry on the hdb website?

pretty much accurate, by 6-8K difference if so diligently fully declare one's financial commitments e.g car, study, CC, personal, ah long (kidding) loans etc.

addon: HDB or bank loan's rationale is to see one's continued employment or income status at the point of HLE loan application. which is why ppl buying BTO gotta submit HLE twice, flat selection and it's near completion. the in between period where one may become jobless, retrenched does not really factor much. of course after collecting keys where one become jobless or retrenched have problem to service the loan then HDB will proceed it's SOP

 

[Manasa62]

So for resale, everytime we view the flat, the seller agent keep asking hle done? Means I need to renew every 6mths? Or is it possible to reapply at the time i found a flat that i like?

Most agents and even sellers would prefer buyers who already have approved loans so that they don't have to worry later whether this deal will fall through.

 

[Ch3tah_39]

cos agent dun want all parties to discuss till OK ON liao halfway buyer part got cockup with obtaining loan then end up the salesperson deal pichak gotta restart again and worse case scenario OTP lapsed. it is prudent to have HLE ready even before scouting a unit cos if nothing changes in the employment or income status of the couple, it's just a renewing formality to be updated to HDB.

Ah good, as long no need upload all the documents for renewal will be good haha

 

[mun_hoe]

Ah good, as long no need upload all the documents for renewal will be good haha

just scan into PDF softcopies, when it's due to renew just upload it again. also prudent on regular monthly basis scan softcopy of your latest payslip until when you confirm your purchase decision.

 

[Ch3tah_39]

just scan into PDF softcopies, when it's due to renew just upload it again. also prudent on regular monthly basis scan softcopy of your latest payslip until when you confirm your purchase decision.

Ah, so is must upload the last 3mths payslip and 12mths cpf statements? Haha need to prepare again. Looking for resale like not so easy. Any location near MRT is start with 5XX k haha

 

[hanah1237]

Hi. My husband and I are employed with monthly CPF contributions. He is employed with allowances. He just joined his job 5 months ago and we only have 5 months payslips. However, for HLE application need 6 months payslips for those employed with allowances. Kindly can anyone tell us will our HLE be low due to this?

 

[jerrylsh]

Hi all,

Have the below situation:

Flat cost: $562,000 (expected delivery in may 2021)
Both me and my partners combined salaries =$7,350 gross per month
Checked on the hle loan calculator that our eligible loan is $482,000
Our initial hle application indicated that hdb only willing to loan us $362,000 (albeit lower salaries previously)
When we went down to hdb to pay the first 5% downpayment & stamp duty etc, the officer was surprised to why our loan ($362,000) was so low, and advised that the loan amount should be much higher and told us that we could do an appeal in future.

Could anybody advise for the 2nd hle that we will apply before collection of keys, will hdb likely be granting us the loan of $486,000 as per their loan estimate calculator indicated?

Thanks!

 

[ssian84]

I have similar question as you do I asked my colleague. The current hle is just an assessment. The loan kicks in when TOP or key collection and that’s few years later2021. He told me by then you can apply for new HLE

Hi all,

Have the below situation:

Flat cost: $562,000 (expected delivery in may 2021)
Both me and my partners combined salaries =$7,350 gross per month
Checked on the hle loan calculator that our eligible loan is $482,000
Our initial hle application indicated that hdb only willing to loan us $362,000 (albeit lower salaries previously)
When we went down to hdb to pay the first 5% downpayment & stamp duty etc, the officer was surprised to why our loan ($362,000) was so low, and advised that the loan amount should be much higher and told us that we could do an appeal in future.

Could anybody advise for the 2nd hle that we will apply before collection of keys, will hdb likely be granting us the loan of $486,000 as per their loan estimate calculator indicated?

Thanks!

 

[BlackCube]

You can actually reapply hle anytime or appeal for higher grant. As long u show your salary, then should not be a problem.

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[jerrylsh]

Just worried that the 2nd HLE amount will still be the same amount as my 1st HLE and i would then have to fork out 200k cash..