PDA

View Full Version : HDB Grant and Loan



ashmakton
9th November 2009, 12:07 PM
wanna clarify something, when will hdb determine if you can take up the hdb loan and grant? upon application, Upon flat selection, or when taking over the keys? If my pay increase after my application and it is over $4k, am i still allowed to take the grant? not so sure in HDB matters. Hope someone can guide me.

thx

anit
10th November 2009, 08:55 AM
wanna clarify something, when will hdb determine if you can take up the hdb loan and grant? upon application, Upon flat selection, or when taking over the keys? If my pay increase after my application and it is over $4k, am i still allowed to take the grant? not so sure in HDB matters. Hope someone can guide me.

thx

i think it sure be upon application logically speaking. you can actually called up HDB to check. it best this way.

ashmakton
10th November 2009, 11:05 AM
i'd probably do that anit. thx for the response. ur online really early =).

was hoping that there would be someone who has experienced my situation to give some light for me before i make the next move too :D

anit
10th November 2009, 05:19 PM
i'd probably do that anit. thx for the response. ur online really early =).

was hoping that there would be someone who has experienced my situation to give some light for me before i make the next move too :D

hehe, depends lar. just happen that that morning i'm in office early.

sorry can't be of much help.

ashmakton
10th November 2009, 05:30 PM
dont worry about it anit, its the thought that counts. just as long as someone responses, im already happy.

thx anyways :)

routristan
7th January 2010, 12:43 PM
wanna know how much cash upfront is needed for a new hdb, resale hdb etc? or a condo, price range quotes welcome. breakdown of costs welcome . i'm always puzzled by the rebates, if can be used to offset upfront cash or later during repayments. cash over valuation and stamp duties are puzzling me too

any one / experts able to help . I dun want to end up buying a house begging pple for cash or having no renovation in the end due to cash problems.

fwong93
7th January 2010, 02:45 PM
wanna know how much cash upfront is needed for a new hdb, resale hdb etc? or a condo, price range quotes welcome. breakdown of costs welcome . i'm always puzzled by the rebates, if can be used to offset upfront cash or later during repayments. cash over valuation and stamp duties are puzzling me too

any one / experts able to help . I dun want to end up buying a house begging pple for cash or having no renovation in the end due to cash problems.

just how much cash upfront is needed for a new hdb, resale hdb etc? Depends on the cash above valuation, and whether you are taking bank loan or HDB loan

Example:
Eligible for New Flat from HDB, Eligible for HDB loan. Purchase price 200k.

Minimum Downpayment = 10% of purchase price
=10% x 200k = 20k (Can be paid fully using CPF)

Maximum loan amount = 90% of purchase price = 90% x 200k = 180k

Stamp fees payable to government (pls use below formula)
1st 180,000 = 1% of 180,000 = $1,800
2nd 180,000 = 2% of amount/180,000 = $3,600
Any amount above 360,000 = 3% of amount

Stamp fee For this case
(Price of 200k) = 1,800 + (20,000 x 2%) = $2,200
(Can be paid fully using CPF)

Above example is the same for HDB resale flat at valuation and taking HDB loan
Please note that HDB resale fact usually include a component call the CASH ABOVE VALUATION (COV).

anit
11th February 2010, 01:44 PM
wow woww wooww.... this is good. thanks for the tips. so in a nut shell, everything can use cpf to pay for HDB am i right?