HLE enquiry

[ashketchum]

Are you self employed...

No I'm not...

 

[3G SAINT]

I’m surprised If both unemployed can still get HLE?

Can be done juz discuss with hdb officer and show them your saving?

 

[vinz]

Can be done juz discuss with hdb officer and show them your saving?

are u someone who been through it and that is why so 100% confident post online it can be done?

Or u just hearsay from friend friend friend friend friend ?

as nobody ever been through what u said, everyone already assume no job how to get any loan from hdb.

pls verify where u get your info.

thanks.

 

[3G SAINT]

are u someone who been through it and that is why so 100% confident post online it can be done?

Or u just hearsay from friend friend friend friend friend ?

as nobody ever been through what u said, everyone already assume no job how to get any loan from hdb.

pls verify where u get your info.

thanks.

Yes got special request before...1st appointment just book the flat..

if need collect key after 5 yrs later HLE will need review....

 

[halfnode]

Yes got special request before...1st appointment just book the flat..

if need collect key after 5 yrs later HLE will need review....

What was needed and how did you request for it?

 

[jerichoo]

They can give you some loan for proceed the 1st appointment)
They will ask your bank balance they give you loan...

They can give you 10k and 2nd appointment which was 5 yrs later the HLE will review again if your salary increase.1st appointment not so important you just book the flat only.
Upon collection key you need resubmit your payslip and review...

hmm but bank balance is totally no weight one ma. i can have 1m in bank, next day withdraw all out. how can it be used as an indicative amount?

i was more thinking along the lines of value of current flat that will be sold

just wondering how the process is like since it will only be sold 5 years later when bto nearly ready

hence my q. coz HDB Clearly states need 6 months payslip.

in this case dont have coz unemployed

anyways thanks for sharin. much appreciated

 

[3G SAINT]

hmm but bank balance is totally no weight one ma. i can have 1m in bank, next day withdraw all out. how can it be used as an indicative amount?

i was more thinking along the lines of value of current flat that will be sold

just wondering how the process is like since it will only be sold 5 years later when bto nearly ready

hence my q. coz HDB Clearly states need 6 months payslip.

in this case dont have coz unemployed

anyways thanks for sharin. much appreciated

When apply HLE dnt withdrawn $$$ until approved.

If need 6 month payslip mean you dnt have cpf contribution.

When you know upon collect key you need to plan to sell your house in advance 9 month or more.HDB allow you 6 month grace period to sell your house.

 

[3G SAINT]

What was needed and how did you request for it.

Cannot share too much

Register 1 company even no latest NOA still ok submit bank statement still can get HLE maybe few thousand...

Or find temporary job with cpf contribution will have get HLE easily...even no 3 month payslip they see your bank statement also.

 

[halfnode]

Cannot share too much

Register 1 company even no latest NOA still ok submit bank statement still can get HLE maybe few thousand...

Or find temporary job with cpf contribution will have get HLE easily...even no 3 month payslip they see your bank statement also.

Thx for sharing

 

[reiser]

Cannot share too much

Register 1 company even no latest NOA still ok submit bank statement still can get HLE maybe few thousand...

Or find temporary job with cpf contribution will have get HLE easily...even no 3 month payslip they see your bank statement also.

What’s the purpose of securing a few thousand dollars for HLE? It won’t help much, will it?

 

[3G SAINT]

What’s the purpose of securing a few thousand dollars for HLE? It won’t help much, will it?

1st appointment just book the flat if no HLE loan will not proceed.
You can told them the balance pay cash.

During 2nd appointment if bto build after 4 years you need resubmit HLE and will base on your latest salary.HDB will base on your salary and cpf contribution to give you loan.If salary no increase HLE likely remain the same.

The 2nd appointment is most important and whether you got enough loan to buy the flat.If loan not enough need top up full cash upon collect key.No $$$ hdb will not give you key...if you can't get loan hdb will cancel your flat.

The older you are,the lesser loan you will get....

Upon collect key make sure you got stable job to reapply HLE loan

 

[3G SAINT]

What’s the purpose of securing a few thousand dollars for HLE? It won’t help much, will it?

Upon collect key,after HLE loan,cpf grant if have any,if still shortage 50k...you need top up cash...

If your bank got $$$$,you will able get loan no problem.

 

[AlanKohCD]

Upon collect key,after HLE loan,cpf grant if have any,if still shortage 50k...you need top up cash...

If your bank got $$$$,you will able get loan no problem.

you mean if bank got $$$ .Will be able to get HDB loan from HDB?

 

[3G SAINT]

you mean if bank got $$$ .Will be able to get HDB loan from HDB?

If you just join new job no 3 month payslip,they will ask to see your bank account and you request higher HLE loan after your HLE loan insufficent.

Can get referral letter from MP then will more easy.

 

[Elijahonli]

1st appointment just book the flat if no HLE loan will not proceed.
You can told them the balance pay cash.

During 2nd appointment if bto build after 4 years you need resubmit HLE and will base on your latest salary.HDB will base on your salary and cpf contribution to give you loan.If salary no increase HLE likely remain the same.

The 2nd appointment is most important and whether you got enough loan to buy the flat.If loan not enough need top up full cash upon collect key.No $$$ hdb will not give you key...if you can't get loan hdb will cancel your flat.

The older you are,the lesser loan you will get....

Upon collect key make sure you got stable job to reapply HLE loan

Just to confirm my understanding,
1. Before 1st Appointment, secure HLE.
- If HLE shows loan amount is 400k and flat is 700k, just tell them 300k will pay in cash?
2. During Lease signing, pay 5% (10% for new cooling measure) of 700k?
3. Just before 2nd appointment, resubmit HLE application
4. 2nd appointment, during key collection based on new HLE amount, pay the remaining down-payment 10% + cash for amount that HLE doesn't cover

 

[halfnode]

Just to confirm my understanding,
1. Before 1st Appointment, secure HLE.
- If HLE shows loan amount is 400k and flat is 700k, just tell them 300k will pay in cash?
2. During Lease signing, pay 5% (10% for new cooling measure) of 700k?
3. Just before 2nd appointment, resubmit HLE application
4. 2nd appointment, during key collection based on new HLE amount, pay the remaining down-payment 10% + cash for amount that HLE doesn't cover

Check out this link: https://www.hdb.gov.sg/residential/buying-a-flat/buying-procedure-for-new-flats/timeline
Your step 1 aka booking of flat need to add submit documents for housing grants
your step 2 it is 10% (signing of lease)
Step 4 is pay 10% + legal & other fees + outstanding amount that HLE does not cover after grant deduction.

Do check your finance properly before purchasing if your HLE cannot cover 80% of the hdb price after grants.

 

[3G SAINT]

Just to confirm my understanding,
1. Before 1st Appointment, secure HLE.
- If HLE shows loan amount is 400k and flat is 700k, just tell them 300k will pay in cash?
2. During Lease signing, pay 5% (10% for new cooling measure) of 700k?
3. Just before 2nd appointment, resubmit HLE application
4. 2nd appointment, during key collection based on new HLE amount, pay the remaining down-payment 10% + cash for amount that HLE doesn't cover

HDB will tell you if loan not enough need top up cash...they assume you got $$$ top up balance when collect key

 

[3G SAINT]

 

[Weeli85]

Knowing their financial is tight yet go and buy 5 room and go loan from bank due to lower interest rate... every mth save $100, where got alot....

HLE loan 2.6% interest is your own interest, next time you purchase another flat, the interest can be use for offset the next purchase while bank interest is the bank makan it....

Lastly added, accrued interest u only paid is when u purchase another flat than the interest u need to paid. If u no intend to purchase another flat than the accrued interest won't really affect u.

Youngster ah Youngster

 

[g_t2006]

Knowing their financial is tight yet go and buy 5 room and go loan from bank due to lower interest rate... every mth save $100, where got alot....

HLE loan 2.6% interest is your own interest, next time you purchase another flat, the interest can be use for offset the next purchase while bank interest is the bank makan it....

Lastly added, accrued interest u only paid is when u purchase another flat than the interest u need to paid. If u no intend to purchase another flat than the accrued interest won't really affect u.

Youngster ah Youngster

You are confused between HDB loan interest and CPF accrued interest.

Even if you take a bank loan, as long as you service the loan using your CPF OA, you are liable for accrued interest (to your CPF) too.

HLE stands for HDB Loan Eligibility. HLE is not a loan. It determines your eligibility and loan quantum from HDB.