As soon as you know how much credit you can get, think about what scholarships you and your partner can receive. Are you and your partner young professionals who have never applied for a BTO apartment? You can qualify for the Enhanced CPF Housing Grant (EHG) if you have an average gross gross monthly income of $9,000 or less and apply for a beginner household. This way, you can get up to $80,000 in housing grants. To qualify for the EHG, you and/or your partner must have worked 12 months without interruption before applying for accommodation. You also need to work at the time of the flat application. However, as a full-time student or NSF, you cannot qualify for the CEC on a lump sum application. If you and your partner are a full-time student or NSF at the apartment and you have booked unfinished housing, you can choose to estimate household income for the EHG and HDB housing credit closer to collecting the keys to the apartment if one of you is 30 years of age or younger. On the other hand, if you have booked a finished accommodation, the income base of the EHG and HDB housing loan is made at Flat Booking. Click here for more information on the deferred interest rate. Note that all housing allowances must be refunded in your CPF account with interest if you sell your home after reaching the minimum occupancy period of 5 years from the collection of the keys. You can choose between an HDB loan and a bank loan. Don`t just sign up for the first loan that will be presented to you. Compare credits with moneySmarts home loan assistants.
With knowledge of your financial situation, the next step is to decide which sales you and your partner are interested in. A list of BTO launches can be find on HDB InfoWEB. As a young couple, you can consider 2-room apartments or larger apartments. In addition to the BTO launches, which are the main offer of new homes for sale, there are the flat balance launches (SBF) that allow you to request balancing apartments from old BTO launches, the selective Bloc Revelopment Scheme (SERS), replacements and purchased apartments. If there are no selected apartments from SBF sales launches, they can be offered under open accommodation reservations. For open apartment bookings, you can request an apartment online at any time and get a queue number for apartment booking on the basis of First-come-first-served and, if possible, book an apartment from the next business day. It is important to apply for a flat type that you can easily afford. As a student or graduate, it`s hard to know how much you`ll earn in 4-5 years if you have to start paying the mortgage. Be careful and make sure you don`t overburden yourself financially. You can use the CPF First Home Calculator to estimate the price of real estate and home loans that you can easily afford, based on dementia income and partners.
Buying an HDB BTO apartment is practically a rite of passage for Singaporeans, a sign that you are finally ready to start growing for the real ones. Here`s a step-by-step guide to your very first BTO app and buying a BTO apartment. The signing of a rental agreement is for dwellings that are still under construction and the key to the dwellings already concluded.