HOW TO BUY HDB WITH $10,000 SGD DOWNPAYMENT ONLY!

by Lee Lee 15 Apr 2015



you in love with your boyfriend for 3 years, and now it seem like time to start your own family. with little children.

but are you prepared? apart from the proposal and wedding


Summary: you only need 10k cash down payment, really? yes really! (I won't lie you, I'm good boy)

couples having diploma only earning $6806 (takehome) will be able to afford 500k HDB
couples having diploma only earning $4764 (takehome) will be able to afford 350k HDB

Eligibility Criteria:

        

For HDB flats only (resale or direct purchase from HDB)
At least one buyer must be a Singapore citizen Must have a gross monthly income not exceeding $10,000 (or $15,000 for extended families)
For DBSS flat the income ceiling is $8,000 (or $10,000 for extended families)
For applicants under the Single Singapore Citizen (SSC) scheme, the income ceiling is $5,000
Must not own any private residence (in Singapore or abroad), including HUDC and executive condominium
Must not have sold a private residential property within 30 months and taken a HDB loan before
Must not have previously obtained a HDB loan within 30 months
Must not have taken more than two previous HDB loans
Must not own more any market / hawker stalls or commercial / industrial property (Except if you operate the business yourself, have no other source of income, and only own one market / hawker stall or commercial / industrial property)


HDB Flat Price: 500k

Downpayment: 50k cash/CPF (10%) *However, with government grants you only need to have 10k cash/CPF!



Loan Tenure: 25 years (max HDB loan allow)
Loan Repay on 450k = $2,042 / month (2.60% interest rate HDB quoted as of posting)

Singapore regulation limit you to 30% of your salary into loan repayment, simply take (2042 divide by 3, then multiple by 10) that's how much you need to be earning to serve your loan. if you meet that's good.

couples having diploma only earning $6806 (takehome) will be able to afford 500k HDB
couples having diploma only earning $4764 (takehome) will be able to afford 350k HDB


all list of HDB for sale

waiting for HDB to TOP? rent it or stay with your parents!


articles are copyrighted by http://propquest.sg

author Lee Lee (PR and Marketing Director) any mistake and correct leelee@propquest.sg)


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