Hi
This is a good question. The exact pro rated formula is not made to the public. Besides grant, your LTV limit and CPF valuation limit will be pro rated too. Do note that only EHG grant will be pro rated but not singles/family grant or PHG grant as long as the remaining lease is more than 20 years. I have assisted various buyers in purchasing a house that could not last them till 95 years old and all of them managed to secure a house without any additional cash deposit. The pro rated amount can be calculated using HDB and CPF automated calculator which can be found in their respective websites. A very careful calculation needs to be made to avoid undesirable outcome of having to come out with hefty cash upfront due to reduced loan, CPF usage and grant allowed. There is also a disadvantage which you need to be aware of when purchasing a house that could not last you till 95 years old. I will explain further if we have a chance to speak since this involves a very complex explanation that could not be easily explained in this platform. I am well specialised in HDB transactions. Do contact me at
93375051
for a free and non obligatory discussion on this,
Regards
Mohammad Taufik Bin Hussein
CEA Reg No: R061607B
Contact No:
93375051
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