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Hi Daryen,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you may like to apply the HLE online first and see what is the maximum HDB loan that you could obtained before deciding on the next step.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear sir,

Thank you for your question, there is no ideal options given that every buyers situation and priorities are different. While BTO is a good route, it may not necessary be fast enough for construction to complete and move in, while not forgetting that it is subjected to chances including for SBF. It is less predictable and given that both of you have applied for BTO before, depending if you have actually gotten the BTO flat and moved in, your priorities given by HDB could be reduced and you maybe subjected to resale levy too.

Going for resale will give you more predictability when it comes to a unit you like to buy. In terms of loan, it is best to check with HDB directly through HLE application. I believe this is extremely important in your case to see if HDB will grant you any housing loan given your past debt history.

Hope the above has information that are helpful to your situation.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Daryen,

1) You didn't mention one critical info which is whether both of you took the key for the BTO applied. If you did, it means that both of you had enjoyed one subsidiary.
2) So if apply for BTO now, it will be considered as the 2nd timer for both of you.

Chance of getting a BTO:
3) If one of you did not take the BTO during your last application, it means that you will be considered as a 1st timer for this new application.
4) You will have a higher chance of getting a BTO faster if you are 1st timer applicant, otherwise you will have to wait longer to get this BTO.

Financially:
5) In terms of finances, a resale levy is applicable for the 2nd timer applicant.
6) Using MSR assessment on your possible loan is around $425k with a 25 yrs tenure.

BTO or resale:
7) With your loan plus your combined CPF, you should not have any difficulties in getting a 4-rm flat in most areas, and a 5-rm flat in some areas if you decided to go for BTO.
8) If you decided to go for resale, a 4-rm flat will be more comfortably affordable and you are not subject to the resale levy.

HDB loan or bank loan:
9) If you are using an HDB loan, you only need to prepare a 15% downpayment, and all 15% can be paid using CPF.
10) If you are taking a bank loan, you will have to prepare a 25% downpayment of which 5% must be in cash.
11) If this is your 2nd HDB loan application, you will be subject to the right-sizing policy.
12) Right-size policy means you have to use half of the cash portion of your last BTO sales proceeds to reduce the loan amount.

13) You will have to carefully assess which is the best option suitable for your current situation.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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