dtsmummy 0 Report post Posted April 24, 2010 hi there, ill like to know when does one actually apply or get the actual HDB loan amount? is it at the 1st appt? or is it sent to u? what about the COV - when is it paid? Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 25, 2010 (edited) hi there, ill like to know when does one actually apply or get the actual HDB loan amount? is it at the 1st appt? or is it sent to u? what about the COV - when is it paid? Should approach HDB getting HLE after $1K option fee paid & before signing OTP. If approved (max 80% of valuation price) then sign OTP, submit resale application, wait for 1st appt date. COV must be paid in cash (bank loan is at 2nd appt, HDB loan, I think is 1st appt). Hope above clears yr doubt. Edited April 25, 2010 by bepgof Share this post Link to post Share on other sites
dtsmummy 0 Report post Posted April 25, 2010 thanks bepgof, do you mean approaching HDB for HLE application only after paying the option fee? and exercising the OTP after HLE approval? so does that mean if HLE approval is done, i can just tell them the actual amount i will like to borrow? is this done at 1st or 2nd appointment? are there additional documents to provide? Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 25, 2010 (edited) thanks bepgof, do you mean approaching HDB for HLE application only after paying the option fee? and exercising the OTP after HLE approval? so does that mean if HLE approval is done, i can just tell them the actual amount i will like to borrow? is this done at 1st or 2nd appointment? are there additional documents to provide? Need bring together the valuation report when applying HLE. HDB will ask you amount you need & check your if you are qualified to apply for HLE, if yes, will give u a letter, then you may consider exercising OTP by paying $4K to seller. You are safe once you got this letter, just wait for 1st appt date. Edited April 25, 2010 by bepgof Share this post Link to post Share on other sites
marshmallow 0 Report post Posted April 26, 2010 thanks bepgof, do you mean approaching HDB for HLE application only after paying the option fee? and exercising the OTP after HLE approval? so does that mean if HLE approval is done, i can just tell them the actual amount i will like to borrow? is this done at 1st or 2nd appointment? are there additional documents to provide? Actually it's good to get your HLE before viewing any flat, so you know how much loan you can get and hence if there is any budget constraint. You must have a valid HLE while exercising OTP, but you can get it in advance, not "only after paying the option fee". Share this post Link to post Share on other sites
therat 18 Report post Posted April 26, 2010 (edited) The best is get a HLE before give the option fee. So that you will not caught in surprise Edited April 26, 2010 by therat Share this post Link to post Share on other sites
Supersimon27 2 Report post Posted April 26, 2010 The best is get a HLE before give the option fee. So that you will not caught in surprise ya ... true .... But do take note HLE only last 3month . Within the 3 month , u change job or etc etc .... the HLE will not vaild Share this post Link to post Share on other sites
adam72 0 Report post Posted June 29, 2010 ya ... true .... But do take note HLE only last 3month . Within the 3 month , u change job or etc etc .... the HLE will not vaild so if within this 3 mths if any change to income source, ie changing jobs or becoming self-employed, then have to apply new HLE? Share this post Link to post Share on other sites
