If your income is low won't you get a much lower HDB Loan, which will cancel out the high HDB Grant? - Seedly
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Anonymous

Asked 4w ago

If your income is low won't you get a much lower HDB Loan, which will cancel out the high HDB Grant?

Of course grants will be higher but won't that mean that HDB loan will be much lesser as well? Let's say for a couple with 3k income, they are eligible to receive a 65K grant but HDB loan only eligible for 140K, still can't afford a 4 rm BTO in a non matured, am i wrong?

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Updated 4w ago

The HDB grant will be determined at the point of application, whereas the HLE loan can be reassessed (closer to the key collection) to qualify for a higher loan amount. Do note that the first HLE is still required for the selection appointment if you want to take a HDB loan.

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Question Poster

3w ago

As in, if after receiving my first HLE letter which states that HDB will only loan me 150k maximum, but I still choose to go book a flat that is worth 400k, hoping that my second HLE will have more loan since it will be 3 more years down the road. And after 3 years, my second HLE is still 150k, and at this point, I chose to give up the flat due to not wanting to pay too much money, what kinds of penalty fees will I be paying or deposits I am forfeiting?
Geraldo L.
Geraldo L.

3w ago

I think i get your question now. This article should provide a good breakdown of the losses at each stage: https://blog.seedly.sg/break-up-bto-hdb-application/