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Hi all, I am a Singapore citizen married to a non-citizen. We are currently working overseas, but we were working in SG last year. We are coming back to SG in Dec, and he will be getting his EP and applying PR after. In the meantime, we want to buy a HDB flat.

Last year in SG, he was earning $3600 and myself $3400 with cpf.

1) Should we get a bank loan or HDB loan? if it correct that HDB will only loan me the maximum based on my income, but not including his?

2) possible to get a 4 room flat based on both our income? My parents stay in Tampines and we are looking up to Bedok in East side, Up to Braddell in North side and up to Queenstown on West side.

we dont have any oustanding loans and i pay in full all credit card balance every month.
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4 Answers

Ivan Ng
Replied
Hi,

You will be eligible for HDB loan, and loan will be based on both your incomes. Definitely, you do have some options with regards to 4-room flats but it also depends on how much downpayment is comfortable for you. For various towns median 4-room prices, link as below.

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

May I know when you are looking to move in? Thanks and hope to speak soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More
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YT Tan (陈永达)
Replied
Good morning!

Welcome back to Singapore.

Btw FYI both bank and HDB will only grant loan based on your income only and not your foreigner spouse. Since you will be back only next month, you should apply for HLE and IPA to see how much can you loan from HDB or bank respectively.

If you need any assistance in your property purchase, feel free to contact me.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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Jerry Phoey
Replied
Hi

In your case,

Singapore Citizen - OWNER
Non-Citizen spouse - OCCUPIER

Combined household income cannot exceed $10,000 if applying for HDB Loan which is valid for you.

However, loan amount is calculated based ONLY on the Singapore Citizen's Income.
No one can project the accurate loan amount except for HDB Finance Officer. Therefore, do not use any loan calculator to do self assess for it will never be accurate. For $4300, your chances to get a loan amount to finance for 4Rm flat is high(for those flat not in Central region)speaking from experience.

Hence, your consideration for Flat Type to purchase is based on how much HDB can loan you together with your current resource(CPF/CASH) on hand.

Hope my explanation helps and do feel free to contact me should you need more guidance.

Cheers :)

Regards
Jerry Phoey
HP: 9630 1615 
email: jerryphoey81@gmail.com Read More
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Mike Lim
Replied
Afternoon,

For your case, you are eligible to purchase resale HDB unit under non-citizen spouse scheme. Both income will be considered during the loan application but your spouse need to have valid long term pass during time of submission. I can recommend my banker to you and work on your IPA for mortgage.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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