Hi,
1) First of all your current condition is not eligible to purchase an HDB flat.
2) Either you become an SC or your husband gets an SPR and maintains SPR status for at least 3 yrs before you are eligible.
3) The housing loans available are as follow:
(a) SC + FR = HDB loan or bank loan
(b) SPR + SPR = bank loan only.
4) Housing loan types:
(a) HDB loan allows you to loan up to a max of 90% of LTV, 10% can be cash and/or CPF
(b) Bank loans allow you to loan up to a max of 75% of LTV, 5% must be cash, 20% can be cash and/or CPF.
5) As a young couple, it is not easy to start your housing purchase with a bank loan, unless you have another backup.
6) HDB loan is only available for SC families; meaning at least one of the applicants is an SC; SC child not counted because cannot be applied until 21 yrs old.
7) Under the configuration of SC + FR, only SC salary is considered for a loan.
8) Under the configuration of SPR + SPR, both incomes will be considered for a loan.
9) Under MSR assessment, $1,800 can only loan up to a max of around $100k. $1,800 + $1,500 can loan up to around $190k. This is just for your reference so that you are more prepared later.
Jia You!!!
Hope the above answer to 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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