March BTO 2012

[sheng89]

I earning 1k per month now.

Can you explain to me how i can finance my flat for this month BTO?

You loan to me interest free ah.

Siao man. knn. eat instant noodle for 30 years? No nutrition and strenght to contribute to sg population.

then LSL will complain no babies. Contradicting hor. The MP are not thinking long term for singaporeans. Who the heck in right mind will want to be in debt for so many years. Life so short still in debt, think don't stay in this world better.

I tak the money to buy flat go migrate to China remote village, think can survive till i die of old age and still got better food.

SG is attractive to foreign investor as they exploited SG resources till only bone left.

 

[ahzai66]

let say i loan 300K from hdb for 30yrs... interest is 2.6% = $7800 per year... 30yrs = total interest $234000, that means total is i pay $534000 for a 4 room 93sqm small house? is this how you calculate? just the interest is almost the same amount as the price of the hdb flat?

 

[ahzai66]

Do you believe got many foreigners became citizen
apply BTO..?

If you got went to see show flat then you will know
what I mean...juz they do not release the data how many foreigners convert...pple think they dnt mind pay 400k-500k for HDB juz they got job if they got retrenchment at 40s plus..then problem came in...once you no job you still need pay the flat...Maybe if one day market collapse see those pple still trust them....hahaha..

someone should take a video of the foreigners who came citizen over there and let the other ignorant singaporeans to know about the truth of what is happening in our homeland...

 

[Maksim168]

let say i loan 300K from hdb for 30yrs... interest is 2.6% = $7800 per year... 30yrs = total interest $234000, that means total is i pay $534000 for a 4 room 93sqm small house? is this how you calculate? just the interest is almost the same amount as the price of the hdb flat?

The interest payment of your 300K loan will be S$132,367.20, monthly repayment is $1,201.02. You may not be able to use your CPF to fully paid up your flat if your CPF account hits the min sum requirement which means you are no longer allow to draw money out from your OA acct, at that time you have to pay the unsettled loan in cash monthly

 

[rojak-]

let say i loan 300K from hdb for 30yrs... interest is 2.6% = $7800 per year... 30yrs = total interest $234000, that means total is i pay $534000 for a 4 room 93sqm small house? is this how you calculate? just the interest is almost the same amount as the price of the hdb flat?

yar the interest sucks. but it's better to be cash rich than to throw in all your money to reduce loan. I'd say buy something within your means+some buffer, then can loan shorter time too... say 15yr loan.

 

[hwaa]

let say i loan 300K from hdb for 30yrs... interest is 2.6% = $7800 per year... 30yrs = total interest $234000, that means total is i pay $534000 for a 4 room 93sqm small house? is this how you calculate? just the interest is almost the same amount as the price of the hdb flat?

yes. so imagine if u loan 500k, lol u're almost paying 1m for your pigeon hole after 30yrs.

pple need to do abit of calculations to see the final amount paid for the amount loaned. 300, 400k may seems like just numbers, but u really cannot stop work in between just to finance your hole. its risky.

if your cpf OA comes in 800+ every mth, goes out 800 to the flat then theres no surplus inside for comfort zone if one decides to switch job, or etc....

 

[Gaddy23]

2 room flat starting from 174k. and bedok isn't exactly the best location. seriously u need to earn at least 3k to finance a 2 room these days? poly grads can go and jump liao. lol. and don't tell me everyone is a grad. barely a third of the p1 intake gets into local unis and not everyone can afford to study private uni. 2 room flat how to have kids?

 

[whitebottle]

I earning 1k per month now.

Can you explain to me how i can finance my flat for this month BTO?

You loan to me interest free ah.

Siao man. knn. eat instant noodle for 30 years? No nutrition and strenght to contribute to sg population.

then LSL will complain no babies. Contradicting hor. The MP are not thinking long term for singaporeans. Who the heck in right mind will want to be in debt for so many years. Life so short still in debt, think don't stay in this world better.

I tak the money to buy flat go migrate to China remote village, think can survive till i die of old age and still got better food.

SG is attractive to foreign investor as they exploited SG resources till only bone left.

Dont u know our govt has an elitist mindset? They only want the 'elite' to procreate and not those earning 1k/mth. This is called social engineering.

 

[hwaa]

I personally believe most 20s-30s couples would have about 5-6k combined income per month.

6k *23% = $1380 (20% employee cpf + 16% employer cpf of which 23% of this 36% goes to OA cpf account)

I believe this $1380 should be enough to buy non-mature 3/4room flat at least.
Based on hdb's monthly loan calculator. A loan of $300,000 for 30 years at 2.6% (hdb loan rate), requires a payment of $1,202

u calculate yourself.

300k x 0.026 = 7800

7800 x 30yrs = 234000

300k + 234k = 534k

534k / 360 mths = $1483 mthly.

general young couples combined shld be in the region of 5-6k. to afford so sky high pigeon hole, they must work non stop and cant afford to stop, with not much surplus inside OA account.

 

[gnixer]

I personally believe most 20s-30s couples would have about 5-6k combined income per month.

6k *23% = $1380 (20% employee cpf + 16% employer cpf of which 23% of this 36% goes to OA cpf account)

I believe this $1380 should be enough to buy non-mature 3/4room flat at least.
Based on hdb's monthly loan calculator. A loan of $300,000 for 30 years at 2.6% (hdb loan rate), requires a payment of $1,202

isn't contridicating that they want to promote family harmony then throw us to pick those corner of the island, what the hell are they thinking?
who assure us that we are going to have a job for the next 30yrs ?
this cheese pie gabment say take care of our future one, is totally cannot believe. is more like taking care of their fleet of own kawan kawan. somemore the grant of 5k vs 450k not even 5% or 10% of the amount to downplay, say give grant but they set it so impossible to be qualify, make no different for sandwiched class people like us to obtain.

 

[ichi87]

I am aiming the Bt panjang (Fajar Hills) since I am already living in the west and do not want to b so far away from my family.. just a quick question.. i see that the steps to apply right, besides the $10 admin fee which is a must, there is 250 to 2000 for the option fee? That option fee is to book the flat is it?

 

[birmingham123]

Sian, so ex but takeup rate still so good.. Makes my chance lower...

 

[whitebottle]

u calculate yourself.

300k x 0.026 = 7800

7800 x 30yrs = 234000

300k + 234k = 534k

534k / 360 mths = $1483 mthly.

general young couples combined shld be in the region of 5-6k. to afford so sky high pigeon hole, they must work non stop and cant afford to stop, with not much surplus inside OA account.

Calculation abit wrong. 2.6% is effective i/r which is on a amotizing principal of the life of the loan.

 

[ahzai66]

haiz... wait long long also won't have a home...

 

[birmingham123]

Loan of 300k for 30 years at 2.6% is 132k interest. Which means at the end of 30 years, u pay 432k in total.

 

[idolcritic]

So actually need $5k-$6k income just to afford a flat nowadays, basically. The CPF OA contribution barely covers the monthly payment.

 

[hazardous]

haiz... wait long long also won't have a home...

Hiaya, even if get a home also must wait long long before clear off the housing debt.

I just signed my bank loan approval.. gonna be in debt for next 35 years! Shiok ah! My business partner from Europe just told me, he already paid off his home loan when he was just 40 years old. knn.

 

[lampano]

So actually need $5k-$6k income just to afford a flat nowadays, basically. The CPF OA contribution barely covers the monthly payment.

you can lah, PAP says 1k salary can afford a 2rm flat already

 

[ahzai66]

Hiaya, even if get a home also must wait long long before clear off the housing debt.

I just signed my bank loan approval.. gonna be in debt for next 35 years! Shiok ah! My business partner from Europe just told me, he already paid off his home loan when he was just 40 years old. knn.

u loan from bank? y not from hdb?

u doing wat business? share some insights leh... so that i can also get a home...

 

[idolcritic]

you can lah, PAP says 1k salary can afford a 2rm flat already

So actually going by this calculation (OA to cover monthly installment), actually many pple should go for the 2-room leh.

But 2-room BTO is got the $2000 income cap or not? I very confused on this.