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Anonymous

12 Aug 2020

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When is your HDB BTO loan eligibility assessed? I am currently unemployed but am due to start my new job only after the application process ends in Aug. Will this affect my BTO application?

More info: I've actually worked for a few months prior to this, but just happens that I will be unemployed for this 2 months, during the application period, while I wait for my new job. Since I have to put "unemployed" when I apply, will it affect my eligibility for both the housing and HDB loan application?

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Duane Cheng

12 Aug 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

Yes it will. If you currently have no source of income, your home loan will be assessed on a single income, which is your fiance/spouse.

You will need to apply for a home loan eligibility letter, prior to booking of a BTO flat. You can look here for more information if you haven't regarding your situation. There will be some implications if you have no valid source of financing, upon booking of your flat.

Hope i was able to shed some insight!

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