March BTO 2012

[Kevin10]

We got queue number 112/156 for Clementi Ridges 3-room. What are the chances of getting a unit and better still, a high floor unit??

Anyone else gonna be "staying there"??

Hi, I might be ur future neighbor.. Haa.. My no. Is 7x...

 

[Kevin10]

eh i need to ask you guys a qns about the HDB Loan. Lets say a 5 room is around 470k, hdb only granting us up to 270k loan, then the remainder 200k we have to pay when we get the keys or we can take external bank loan for the 200k too?

After deducting all ur CPf and the loan, u will hav to fork out the remaining by cash if I m not wrong...

Hmm.. From ur question, I sense that u hav over commit ??

 

[Nicbots]

After deducting all ur CPf and the loan, u will hav to fork out the remaining by cash if I m not wrong...

Hmm.. From ur question, I sense that u hav over commit ??

Still ok la, its in 5 years time anyway. So confirm remainder must cash? or able to take a loan from a bank to cover the remainder?

 

[Kevin10]

Still ok la, its in 5 years time anyway. So confirm remainder must cash? or able to take a loan from a bank to cover the remainder?

Yup.. But I m not sure whether the bank will be able to loan you.. This hav to check with the experts here ..

 

[LiangZzZ]

Hi guys,

Most of you as a first time feel unhappy with the result but at least you are better than me.

My wife inherent a BTO flat after both parents died due to illness. And now we are considered as a 2nd timer, our chance of success rate is lower. In order to have a higher chance, we can only apply non mature estate. Even so, 2nd time is only given 15% of the total launch.

The real 2nd timers, at least you have been as a 1st time and enjoyed the benefit and subsidy if any.

Under normal cases, each generation enjoy once as a1st timer, where they can have equal chance of applying a BTO and at mature estate if possible, but not for us.Fair ?

The policy has a flaw which we are forced to accept...

at least you have a roof over your head now... there are people who are under MCPS (i.e. with newborn child and need to stay near parents) and urgently need a flat but still can't get a good queue number, or those who are trying less popular areas to secure a unit...

agree with your point but unfortunately there is no one size that fits all... there are bound to be disappointments once the flat is oversubscribed, say Clementi with >4 times, but you can also go for Bukit Panjang with <1 time subscribed, its your choice...

 

[jeffcech]

i apply mcps but got 6xx/501 for bb.. my colleague random apply got 1xx/501.. he stay woodlands, i stay opp bb.. no luck. =/

 

[LiangZzZ]

hi there,

could anyone advise what it's like on selection day? do they serve a few couples simultaneously? also, do both fiancé and fiancée have to be present?

lastly, is the queue number relative to the room type or total units in the entire estate?

thanks so much!

there will be multiple selections each day and yes, both have to be present. the queue number is what you balloted for the unit category ma... i.e. 3-room and 4-room selection can run concurrently even though they are separate queue number sequences...

Still ok la, its in 5 years time anyway. So confirm remainder must cash? or able to take a loan from a bank to cover the remainder?

yes it must be in cash... the loan will not be the "housing loan" that banks extend to homeowners, it will be personal loans with higher loan interest rate %... there was this dude who bought a 500k 4-room BM SOBF unit with only 2k combined income, so up to you to decide if you can buy within your means...

 

[annisthenewpink]

eh i need to ask you guys a qns about the HDB Loan. Lets say a 5 room is around 470k, hdb only granting us up to 270k loan, then the remainder 200k we have to pay when we get the keys or we can take external bank loan for the 200k too?

What's HDB's criteria for the maximum up to loan amount? Does it depend on the applicants' combined income or how do they assess? How did you arrive at the above estimation?

 

[Nicbots]

What's HDB's criteria for the maximum up to loan amount? Does it depend on the applicants' combined income or how do they assess? How did you arrive at the above estimation?

You apply for the HDB HLE loan, they will ask u to submit you and your spouse's past 12 months income, then they calculate and mail you the amount they decide to loan you, including the amount you have to pay back at the end of the day.

 

[acetylcholine]

eh i need to ask you guys a qns about the HDB Loan. Lets say a 5 room is around 470k, hdb only granting us up to 270k loan, then the remainder 200k we have to pay when we get the keys or we can take external bank loan for the 200k too?

Most banks won't want to take the risk of being a second mortgagee behind HDB (especially when prices are rather high now - i.e. value of property may drop if economy tanks). If you try applying for an unsecured loan, two points:

1) Most probably won't be able to get that much. $200,000 is a lot of money to be lent unsecured...$20,000 maybe.

2) Even in the unlikely event where they decide to lend you, the interest rates will probably be astronomical due to the high risk which the bank is undertaking. So it won't be worth it in any case - and your monthly repayments to service both your mortgage and your unsecured loan will probably take off a significant chunk from your salary.

On a side note, I heard HDB is quite strict nowadays in terms of allowing people to over-extend themselves. So they might want to have some proof of how you are going to be able to afford the remaining sum when you are due to collect your keys. Not sure about this though...you might want to call HDB to double confirm. Do keep us updated!

 

[Nicbots]

Most banks won't want to take the risk of being a second mortgagee behind HDB (especially when prices are rather high now - i.e. value of property may drop if economy tanks). If you try applying for an unsecured loan, two points:

1) Most probably won't be able to get that much. $200,000 is a lot of money to be lent unsecured...$20,000 maybe.

2) Even in the unlikely event where they decide to lend you, the interest rates will probably be astronomical due to the high risk which the bank is undertaking. So it won't be worth it in any case - and your monthly repayments to service both your mortgage and your unsecured loan will probably take off a significant chunk from your salary.

On a side note, I heard HDB is quite strict nowadays in terms of allowing people to over-extend themselves. So they might want to have some proof of how you are going to be able to afford the remaining sum when you are due to collect your keys. Not sure about this though...you might want to call HDB to double confirm. Do keep us updated!

The HLE is based on 1 income at the moment, at 260K, 2.8k monthly. Our combined income should be about 7k++ in 5 years time, so i guess HLE will increase accordingly so I don't have to pay so much cash up front/take private loan?

 

[sendohadr]

zzzzzzzzzzzzzzzzzzzzzzz

 

[rain_myth]

i also facing that problem since my fiance is not working yet due to studies but she will be graduating next year from uni so our combined income should be higher. anyone can confirm whether can renew the HLE when we collect our keys four years later?

i have nt read earlier post u written if u did.
first thing: u gotten a queue no.?

hle can renew years later. for info, u have to cough out 5-10% (check d site for exact %) of the price when u sign the lease. hdb deduct ur cpf, if nt enou, pay cash.

 

[acetylcholine]

The HLE is based on 1 income at the moment, at 260K, 2.8k monthly. Our combined income should be about 7k++ in 5 years time, so i guess HLE will increase accordingly so I don't have to pay so much cash up front/take private loan?

Yeah sounds good. $7k++ will easily cover the cost of the house (especially when your CPF will accumulate from now till then). In fact, if you hit more than $8k you may have to get a bank loan instead (not sure, please double confirm). Just ring HDB hotline tomorrow and check with them.

 

[frozened]

Yeah sounds good. $7k++ will easily cover the cost of the house (especially when your CPF will accumulate from now till then). In fact, if you hit more than $8k you may have to get a bank loan instead (not sure, please double confirm). Just ring HDB hotline tomorrow and check with them.

yes bro you're correct. No need to call haha!
below 8K you can get HDB loan now. above 8k you have to take bank loan sorry.
When you go for your appointment based on your queue number, you put down a 2k option fee to book the unit. Subsequently they will then require you to put in 5% downpayment deductible through CPF. If not enough $$$ in CPF you have to top-up to pay cash.

Also note that earning below $5k, you are entitled to have additional housing grant to offset your loan regardless of whether its a BTO or DBSS. As long as you fulfill the requirement earning below 5k of combined income.

But as some bros mentioned, buy a house within your means.

 

[Nicbots]

yes bro you're correct. No need to call haha!
below 8K you can get HDB loan now. above 8k you have to take bank loan sorry.
When you go for your appointment based on your queue number, you put down a 2k option fee to book the unit. Subsequently they will then require you to put in 5% downpayment deductible through CPF. If not enough $$$ in CPF you have to top-up to pay cash.

Also note that earning below $5k, you are entitled to have additional housing grant to offset your loan regardless of whether its a BTO or DBSS. As long as you fulfill the requirement earning below 5k of combined income.

But as some bros mentioned, buy a house within your means.

do they give u the grant when we select the flat, or when we collect keys? Because now still only 2.8k still got chance for grant 5 years time earn more than 5k combined liao

 

[frozened]

do they give u the grant when we select the flat, or when we collect keys? Because now still only 2.8k still got chance for grant 5 years time earn more than 5k combined liao

i think when you apply for the HLE now they will automatically calculate the grant in for you. However i'd suggest not relying on the grant as the amount with a 2.8k salary is not as significant as someone who is earning say 2k per month. However the grants enables you to offset the downpayment

 

[Jaclynt]

Macpherson Residency

Anyone got Macpherson Residency and will definitely be choosing? I've set up the page here https://www.facebook.com/MacphersonResidency

 

[delladella8@gmail.com]

Skyline I & II @ Bukit Batok

Here's the facebook page:

w w w.facebook.com/SkylineAtBukitBatok

 

[p00p00]

yes bro you're correct. No need to call haha!
below 8K you can get HDB loan now. above 8k you have to take bank loan sorry.
When you go for your appointment based on your queue number, you put down a 2k option fee to book the unit. Subsequently they will then require you to put in 5% downpayment deductible through CPF. If not enough $$$ in CPF you have to top-up to pay cash.

Also note that earning below $5k, you are entitled to have additional housing grant to offset your loan regardless of whether its a BTO or DBSS. As long as you fulfill the requirement earning below 5k of combined income.

But as some bros mentioned, buy a house within your means.

i managed to get AHG last year when i apply flat due to single income... now combine almost 8k liao... 2 years later when need get keys can remain as HDB loan anot?