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Hello Terence,

Yes you can purchase a resale HDB flat under the non citizen spouse scheme as long as the both of you are legally married. You'll also be entitled to a grant of $11k which would be placed in your CPF account. Therefore you can use this portion to offset your stamp fee and the remainder to get a lesser loan. However you need to be certain of which location and the type of flat you are looking at. Generally in today's market a simple flat is commanding 15 to 30k cash above valuation. e.g the valuation of 3rm flat in bt batok is 180k and the asking price is 220k.

Cash above valuation - 40k
10% of valuation - 18,000 (used from CPF, if cpf is unsufficient, you would have to top up cash)
3% stamp fee (CPF)
90% - hdb loan with an interest rate of 2.6%

I hope you find the above information useful. For any queries, do give me a buzz at 90678531  .

Cheers!
Natalie
DTZ Read More

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