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Anonymous
How to finance a BTO?
I’m a fresh grad (2 months into working life) and have been thinking how can i save so that i will be able to have a flat in max 6 years time.
context is that my bf is still in NS and is only going to ORD in 2022 then study uni for 3 years. by the time he is working and earning it will be in 4-5 years time.
how can i or what can i do to ensure i can finance a BTO in 6 years time? without thinking about getting any help from family and keeping my bf potential income out of my mind.
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Honestly hdb is quite affordable. Just dont over leverage & make sure u have a stable income.
Step1 calculate max loan you can get.
https://www.dbs.com.sg/personal/marketplace/pro...
step2 look at the price of the house make sure is less than your max loan, else u will be stress.
step3 u just need 5% cash down payment. The rest use cpf. Eg. If a hdb cost $600k. 5% =$30k. Divide by 2 person. Each $15k.
You ask me, i would just save for it instead of invest for it. I will use bank loan, becoz lower interest, after lock in period, just do a repricing.
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Sorry, can i probe further? if you want a BTO in 6 years time, meaning you should have been invited ...
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