If you would like resource to acquire and take across the control out of a condo, it’s also possible to make an application for a housing mortgage of HDB or perhaps the loan providers (FI).

Submit an application for an HDB Flat Qualification (HFE) letter via the HDB Flat Site for an alternative comprehension of your houses and you will funding choices before you could continue your home to order journey. It does reveal upfront of the eligibility to purchase a good brand new or resale apartment, plus the number of houses features and you can HDB property financing you are eligible for.

Eligibility requirements

All people in this new center family unit members nucleus on the HFE letter app, shaped from the applicant(s) and occupier(s) whom permit the domestic to meet brand new eligibility criteria into apartment get, have not drawn 2 or more casing fund out of HDB.

* Houses loan isnt readily available for the purchase off dos-space Flexi flats into brief rent otherwise Community Care Apartments. You ought to buy the newest flat buy playing with bucks and you may/ or CPF Ordinary Membership coupons.

Appeal or possession from inside the a property

Youre thought to individual or have an interest in an effective property for those who have gotten a home as a result of pick otherwise whenever it is:

• Acquired from the current;
• Passed down since a recipient significantly less than a may or regarding Intestate Sequence Operate;
• Owned, obtained, or discarded as a result of nominees; otherwise
• Acquired by waiting on hold trust for another person/ organization availableloan.net parent plus loan.

This new criteria toward ownership/ need for private domestic and you may low-home apply to the regional and you will overseas functions which might be accomplished otherwise uncompleted, and include but are not limited for the after the:

A house, strengthening, belongings that’s lower than a residential belongings zoning (together with home which have numerous land zoning ), Executive Condo (EC) equipment, privatised HUDC apartment and you will mixed fool around with advancement .

Age.g. residential property which have industrial component at very first storey or commercial and belongings Age.g. characteristics having a domestic parts, including HDB store that have living house otherwise shophouse.

Individual residential property

• Should not individual or are interested in your regional otherwise overseas individual property; and you can
• Must not has actually disposed of people individual property over the past 30 months, on legal achievement time*, before HFE letter application.

Non-land

All the people and you will occupiers listed in the new HFE page software can also be, just like the a family group, very own or have an interest in as much as step one non-house^ on point of obtaining an HFE page, once they need to purchase a flat from HDB, a selling apartment with CPF construction gives, or a selling Finest Location Personal Construction (PLH) flat.

^ It is regardless of the display regarding control on the low-belongings. In case your candidates and you will occupiers own an identical low-property, the family is generally accepted as managing step one low-residential property.

In case the individuals and occupiers individual or have an interest in more step one low-property, they should has disposed of others non-properties about 29 days (mentioned on legal completion go out of your discretion of the interest) before you apply to possess an HFE letter.

The borrowed funds count is dependent upon new the total amount the rest book can be shelter the youngest candidate towards period of 95 and you may a lot more than.

Make use of the commission plan calculator to determine the new money expected at the various goals to invest in another type of otherwise selling flat, and look that you have sufficient budget prior to investing an excellent flat pick.

The fresh LTV maximum is the restrict quantity of housing mortgage a flat candidate usually takes up, indicated while the a percentage of straight down of your flat speed otherwise property value the fresh flat.