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Hi Gurus,

One of us is working full time, and the other is self employed with not much cpf contribution monthly.

What are the main factors that hdb lookout for in issuing the hdb loan? I have read articles that in some cases the loan given is around 200k because of self employment

We are planning to get a resale flat preferably between 400k and above.

We prefer not to take bank loan
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2 Answers

Mohamad Fadily Senen
Replied
Hi Sir/Mdm

A very good day to you.

For your spouse who is currently sef employed, there will be a haircut before calculation of the loan. Even still , I believe it shouldnt be a problem for you to purchase a resale.

And with upto $160K in grants for first timers, I believe this can increase your loan budget.

Please feel free to contact me so that I can understand your intentions and explain to you in details.

Best Regards
Mohamad Fadily Senen
 88383966 
Propnex Read More
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Kelvin Tay
Replied
Hi,

Loan eligibility is assess base on the MSR for HDB which is known as Mortgage Servicing Ratio.

Age, Income and Loan Tenure will affect the total amount of Loan that will be granted.

However if either of you is a SC, you may tap on the many grants that are available.

Contact me for a non obligatory assessment and I will share with what are the options available.

Regards,

Kelvin Tay
Associate Group Director | Propnex Singapore

BSc Business Analytics
Dip. Building & Real Estate Management

wa.me/6598586898
https://r056543e.propnex.net https://www.linkedin.com/in/kelvin-tay-郑庆良-3bbbaa76 https://www.facebook.com/KelvintayProperty/ Read More
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