SJIdealHomes

Are you eligible to buy an Executive Condominium?
- 21 years old
- Combined Gross Income Not More Than $16k
- Min 1 Singapore Citizen & 1 SPR
- Must not own private property

Executive Condos are a hybrid of public and private housing.

You pay affordable prices and enjoy condo facilities like a gym, swimming pool, and 24/7 security. No wonder many Singaporeans dream of being able to afford an EC.

If you are one of the many, come and talk to me about how to realise your dream!

Do You Know What is LTV?

For example, if you borrow $750k to purchase a property valued at 1 million, the LTV is 75%.

We love our acronyms: CTE, AYE, COE, HDB.
LTV is another acronym you need to know if you are taking a loan for your dream home.
The loan amount as a percentage of the property's value: the higher your downpayment, the lower your LTV ratio.

For new property, the loan-to-value ratio is calculated from the price you are paying for that property.

If you agree at a higher cost than the valuation price for resale property, the difference between these two amounts is called Cash Over Value (COV). Another acronym :)

Unfortunately, COV have to be paid in cash $$$
Bad news for those who don't have that much cash on hand, but I can help you in this situation. Call me up, and let's discuss it over coffee.

How to Use CPF to Buy Your Dream Home?

If you are taking a HDB Loan, you may retain up to $20,000 in your CPF OA. Remaining CPF savings in your OA must be used for the flat purchase (up to the applicable limits).

Still Unsure?

Your dream home need not be a nightmare. DM me to find out more!

Enough Credits to Finance a Flat purchase?

HDB Instalments can stretch to 30 years

Pte Property can stretch to 35 years

Many young couples dream of purchasing a home, but one reality check comes to mind: do you have enough credit to finance a flat purchase?

For HDB Housing Loan, apply through the HDB website to know your eligibility and the loan amount. Otherwise, approach financial institutions for a home loan.

HDB Loan is pegged at 0.1% above the prevailing CPF Ordinary Account (OA) interest rate.

For HDB Loan: No minimum cash payment if you have sufficient savings in your CPF OA and housing loan for the remaining balance.

Just give me a call and I'm happy to walk you through the difference between taking a loan from HDB and FIs.

SJIdealHomes is now on WhatsApp.