sachi_sg 0 Report post Posted August 27, 2008 Hi, We had book a 4RM flat under BTO will only be ready by 2012 end. But now with huge rent raise, I am thinking to buy a house mean time until 2013. But now my key question is any chance or any way to get 100% HDB loan? Usually the max they go is 90% which I already know from HDB website. And advice pls? It is really because of the personal problems. Thanks in advance, Sachi Share this post Link to post Share on other sites
applefreak 1 Report post Posted August 27, 2008 they will NEVER give 100% loan if you can't even pay the 10% downpayment how can they believe you can afford the monthly installments??? Share this post Link to post Share on other sites
TYM 0 Report post Posted August 27, 2008 Can buy a resale unit when you have already selected a new flat? Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted August 27, 2008 TYM is right; you can't buy a flat while keeping your booking for the BTO; you got to give up your booking first. The resale market is now still flooded with owners asking for high COV, even small 3-rm flats at wulu locations also want to have at least $10K COV. If you do not even have enough for 10% downpayment, how can you even afford the COV? There is always a flat for rent at any (reasonable) budget, but if you are so much in hardship, then you could try applying to HDB for their rental flats. Then again, if you can afford to book a 4-rm flat, dun think you will qualify... Share this post Link to post Share on other sites
sachi_sg 0 Report post Posted August 28, 2008 (edited) Well, As per the discussion with HDB => You can buy a ?HDB flat while you wait for your new house, but u will not get Housing grant. And you will have to stay in that house for 2.5yrs and should sell off when HDB gives you notice some 6months before you get the new house key. Can buy a resale unit when you have already selected a new flat? Well, I did my research already. There are soo many houses you can buy without COV. And there are even so many houses you can buy with less than 5k COV. It may not be near to MRT or near to all amenities. TYM is right; you can't buy a flat while keeping your booking for the BTO; you got to give up your booking first. The resale market is now still flooded with owners asking for high COV, even small 3-rm flats at wulu locations also want to have at least $10K COV. If you do not even have enough for 10% downpayment, how can you even afford the COV? There is always a flat for rent at any (reasonable) budget, but if you are so much in hardship, then you could try applying to HDB for their rental flats. Then again, if you can afford to book a 4-rm flat, dun think you will qualify... Well, Monthly installments will be paid from CPF. My CPF is well enough to pay the monthly installments. they will NEVER give 100% loan if you can't even pay the 10% downpayment how can they believe you can afford the monthly installments??? Edited August 28, 2008 by sachi_sg Share this post Link to post Share on other sites
applefreak 1 Report post Posted August 28, 2008 if your monthly is enough to cover installments then surely there'll be some left even after paying for the resale flat? no? Share this post Link to post Share on other sites
sachi_sg 0 Report post Posted September 2, 2008 Yes you are corrent. That will be utlized if I get a loan and need some money for those stamp duty etc right.. if your monthly is enough to cover installments then surely there'll be some left even after paying for the resale flat? no? Share this post Link to post Share on other sites
applefreak 1 Report post Posted September 2, 2008 hdb stamp duty very cheap think a few thousand only try to save at least 10% of the down payment from cash Share this post Link to post Share on other sites
sirensoh 0 Report post Posted September 18, 2008 Hi, We had book a 4RM flat under BTO will only be ready by 2012 end. But now with huge rent raise, I am thinking to buy a house mean time until 2013. But now my key question is any chance or any way to get 100% HDB loan? Usually the max they go is 90% which I already know from HDB website. And advice pls? It is really because of the personal problems. Thanks in advance, Sachi Why don't you apply for the HLE 1st to know how much you can borrow. HDB might not even grant you full 90%. Share this post Link to post Share on other sites
