AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
My husband and I, both Singapore Citizens are looking to apply for a HDB loan (our combined income is below 10k) for a resale unit. This will be our first property. I understand that the applicant's CPF will be wiped out prior to the disbursement of the loan. Is it possible for me to be lodged as an "essential occupier" and is it possible to utilize only my husband's CPF for the loan if his income is sufficient to obtain the loan quantum we need? Would I be also forced to wipe out my CPF as an occupier?
0 •
509 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Mike Lim
Replied
Morning,

Under public scheme, both of you are required to be owner of the unit. HDB loan is calculated based on gross household income but you can decide to utilize solely your spouse CPF for the monthly installment. With HDB loan, both owner's CPF will be wiped out before HDB will loan you the balance.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions