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Ivy Tan

17 Jul 2021

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If me and my partner combined salary is $4860, can we afford a $450,000 bto?

Our HLE loan amount is $306,000. With grant of $45,000 and 10% down payment of the house is $450,000 * 10% = $45,000

$450,000 - $306,000 - $45,000 - $45,000 = $54,000.

Do we need to fork out this $54,000 balance?

I hope my calculation is correct.. can anyone help?

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Andy Chan

18 Jul 2021

If I'm not wrong, the grants are deducted from the purchase price of your house.

So the final price of your house should be $450,000 - $45,000 = $405,000

Since your loan amount is $306,000, that leaves a $99,000 shortfall that you need to pay in cash and/or CPF. You also need to take into account the stamp duties payable.

There is a BTO telegram group chat if you haven't already joined. You can consider directing your questions there as well.

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