HLE enquiry

[[P]rodigy]

HLE must be ready before booking of flat right?

What if the hle amount is lesser than the flat purchase price? I have to show prove or do I have to top up the shortfall (including deposit) at time of booking flat ?

Does anyone have any answer to this yet? I'm confused too!

Or is it possible to apply another hle loan in the future in the mean time when the bto is building

 

[BlackCube]

When booking flat, it doesn't really matter. They will say how much you will need to top-up when you getting the key.

Before getting your keys, they will ask you to re-apply your HLE loan, and then depend on how much the loan is, and whether you need to top-up cash, etc

 

[dilphinus]

Does anyone have any answer to this yet? I'm confused too!

Or is it possible to apply another hle loan in the future in the mean time when the bto is building

It is not possible to get a 100% loan of the purchase price. All info is on the HDB website.

Do you mean a 2nd HLE/HDB loan for your next purchase or a HLE re-assessment? You mean your 1st purchase is a BTO and you want to get a reassessment when the BTO is in the construction stage? Or you mean you have a HDB purchased already and you are currently occupying it and you have an upcoming BTO and while it's being constructed, you want to get a HLE loan for it?

For new flats, the LTV limit* is up to 90% of the purchase price. For resale flats, it is up to 90% of the lower of the resale price or value of the flat.

https://www.hdb.gov.sg/residential/...hdb/more-information-on-your-hdb-housing-loan
If you have purchased an uncompleted flat from HDB, we will review your financial position nearer the completion of the flat. This is to confirm that there is no change in your ability to service the housing loan.

I interpret it as that even if there's an increase in your income, they won't change the loan amount. The review is to ensure your income doesn't get lesser and you lose the ability to service the loan amount.

https://www.hdb.gov.sg/residential/.../housing-loan-from-hdb/eligibility-conditions

 

[Mortgagegurusg]

Just to add, for anyone who would like to switch to bank loan before key collection.
Do give a 2 months period to apply for the bank loan and do to do lawyer documentation.

 

[PekHenry]

Hello, Is there anyone here who experiencing outstanding debts from Credit cards and still manages to get HLE loan approve?

I am employed with monthly CPF contributions.

 

[Dlct]

Hello, trying to understand if I still need to have my HLE application valid for the BTO 2nd appointment. I Have completed the 1st appointment but the HLE is valid till Oct 21.

Have yet to get the 2nd appointment date. Do I still need to ensure my HLE is valid or it is just for the 1st appointment?

 

[lance88]

Anyone gotten hle loan even though the same month became unemployed?

 

[LordDeathZ]

HDB told me my expected key collection is Q1 2022 but I am still not called or information to do HLE assessment? Is this normal or sign for delayed key collection?

 

[lance88]

HDB told me my expected key collection is Q1 2022 but I am still not called or information to do HLE assessment? Is this normal or sign for delayed key collection?

It's possible to do them in one shot. So when the house is ready, hdb will email you to tell you to get hle ready

 

[Jameschua003]

Hi not sure if anyone has experience in this aspect. After paying the down payment 10% there is a wait of 5 years before we can receive our keys, during which we would again be building up our CPF. Therefore my question is would it be possible to further tap on our CPF to lower the loan amount before key collection my flat will be ready in 2025.

 

[BlackCube]

Before you collect key, your CPF will be wiped up to 20k (if you choose to)

 

[lance88]

Before you collect key, your CPF will be wiped up to 20k (if you choose to)

Up to 20k? I tot the default is wipe all except those already in investment. But also have the option to choose to less deduct up to certain value

 

[vinz]

Information must be from correct source, and don't believe everything we read on online forum. Most people are just clocking posts to pass time.

Pls click :

More Information on Your HDB Housing Loan​

 

[skpuppy]

It is not possible to get a 100% loan of the purchase price. All info is on the HDB website.

Do you mean a 2nd HLE/HDB loan for your next purchase or a HLE re-assessment? You mean your 1st purchase is a BTO and you want to get a reassessment when the BTO is in the construction stage? Or you mean you have a HDB purchased already and you are currently occupying it and you have an upcoming BTO and while it's being constructed, you want to get a HLE loan for it?

For new flats, the LTV limit* is up to 90% of the purchase price. For resale flats, it is up to 90% of the lower of the resale price or value of the flat.

https://www.hdb.gov.sg/residential/...hdb/more-information-on-your-hdb-housing-loan
If you have purchased an uncompleted flat from HDB, we will review your financial position nearer the completion of the flat. This is to confirm that there is no change in your ability to service the housing loan.

I interpret it as that even if there's an increase in your income, they won't change the loan amount. The review is to ensure your income doesn't get lesser and you lose the ability to service the loan amount.

https://www.hdb.gov.sg/residential/.../housing-loan-from-hdb/eligibility-conditions

Like that not fair lei. What if you suddenly lose your job when you are near to key collection then got problem trying to service the loan?

 

[BlackCube]

Up to 20k? I tot the default is wipe all except those already in investment. But also have the option to choose to less deduct up to certain value

Information must be from correct source, and don't believe everything we read on online forum. Most people are just clocking posts to pass time.

Pls click :

More Information on Your HDB Housing Loan​

Here's your answer

 

[Muneyzmart]

Hi Vinz, I have a relative whom had bought resale two times and had never taken any government subsidies. In this instance, will they get to enjoy HDB grants based on their income bracket?

 

[lance88]

Like that not fair lei. What if you suddenly lose your job when you are near to key collection then got problem trying to service the loan?

This exactly happens to me, and yes hdb or any banks will NOT loan you. Will end up asking hdb appeal to delay getting key until you get a job (w/ salary that can support the loan + 3mths into the job)

It just damn make no sense, just purely becos you are out of job during that short period of time even though you could be working for 5-10 over years. On top of all these is just how amazing the hassle is to get the hdb to delay the key, because internally there are lots of dept and they dont seems to align well.

 

[ncsjason]

Hello, trying to understand if I still need to have my HLE application valid for the BTO 2nd appointment. I Have completed the 1st appointment but the HLE is valid till Oct 21.

Have yet to get the 2nd appointment date. Do I still need to ensure my HLE is valid or it is just for the 1st appointment?

May i ask if you already have your answer, I am in the same scenario as you described above

 

[lance88]

When it's ready for 2nd appointment, they will also ask for a valid hle (which you need to apply again)

 

[gonewiththesmart]

Can ask when i apply consent to buy,i intend to get bank loan.
Then after i buy a flat,i want get hdb loan.
Can i switch apply HLE after i submitted resale application?