Help On Finanical Plan For Selling And Buying

[acidjc 0]

hi all,

I need help on finanical calculation for my buying and selling.

anyone can help me with the info and all the necessary items and fee that we need to pay??

I have check with the HDB webinfo and they only got calculation for resale HDB purchase from HDB, it is the same?

Hence can anyone advise me on the following:

1. How do I calculate my final cash value (after sales completion, that mean minus off everything and anything)

2. How do I calcuate my monthly installment for my new house?

anyone pls help to advise me. Tks.

FYI, We had screwd up by my preious agent for not letting us know in detail of my finanical plan, now that I have already paid the excise fee for the new house, we are worried that the new monthly installment might exceed our monthly CPF contribution. Now our worst plan is to forgo the S$5K subject to the owner not sueing us for redrawal.

[therat 18]

1. How do I calculate my final cash value (after sales completion, that mean minus off everything and anything)

http://services2.hdb.gov.sg/webapp/BB24Sal...aleProceedsCalc

2. How do I calcuate my monthly installment for my new house?

http://mycpf.cpf.gov.sg/Members/Calculator...Calculators.htm

Buying A House

# CPF Housing Withdrawal Limits Calculator

# Our First Home Calculator New!

# Home Affordability Calculator

# Home Protection Scheme Premium Calculator

# Loan Repayment Period Calculator

# Monthly Instalment Calculator

# Outstanding Loan Calculator

# Total Interest Calculator

[acidjc 0]

Thanks threat for the link.

btw I am 40yr old, so base on CPF, can I take a loan up to 25yr? or 21yr only?

[therat 18]

u taking bank loan or HDB loan?

If Bank loan, ask the bank. Different bank has their own cut off age.

For HDB loan,

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...at?OpenDocument

Maximum Loan Quantum

The maximum loan amount that may be granted depends on:-

(a) maximum repayment period;

The maximum loan repayment period is 65 years minus the buyer’s age or 30 years, whichever is shorter.

[acidjc 0]

thanks for all the info and link.

tonight I will double confirm it with my agent (new one, as old I terminated them).

worst case if to revoke my new house since we can't really afford it base on CPF payment. Hopfully everything can goes on smoothly (no sueing from the seller), fingers crossed

[therat 18]

If you are taking HDB loan, you should have HLE on hold.

If this is your 2nd subsidy HDB, pls prepare CASH + interest to pay your levy.

Financial Planning

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...es?OpenDocument

* Financial Planning

* Housing Loan from HDB

* Housing Loan from Bank

* CPF Housing Grant Schemes

* Cost Involved

* Enhanced Contra Facility (ECF)

[therat 18]

http://askhdb.hdb.gov.sg/Home/hybrid/Theme...ategory%3D60665

* Q: * Due to unforeseen circumstances, I do not wish to proceed to buy the resale flat. How do I go about doing it?

[ Buying A Resale Flat > Resale Procedures for Buyers > Submit Resale Application ]

* A:

Before the first appointment

Either buyer or seller may submit a written request to HDB to cancel the registered resale application.

After the first appointment

Both buyer and seller must agree to the cancellation of the resale application and submit a written request to HDB for the cancellation. This cancellation, however, does not necessarily mean the Option to Purchase becomes void.

In the case of a dispute, both parties will have to consult their own private solicitors.

[acidjc 0]

Thanks for all your advices and help.

We went to HDB to ask the officer to compute for us our monhtly installment for our new house. Seem like the result is not as bad as what we have think. *THANKS GOD*

[bepgof 20]

Thanks threat for the link.

btw I am 40yr old, so base on CPF, can I take a loan up to 25yr? or 21yr only?

I'm 46 and wife 41, recently just took one with UOB for 30yrs. Usually Max age up to 70 year old, but bank see credit ranking also.

Edited November 10, 2010 by bepgof