Anonymous

07 Jun 2019

∙

What do I need to get an approved loan for a 4-room BTO? ?

I have just enlisted to NS at the age of 25 with $560 monthly allowance and my wife has a business earning around $3-4k a month. What is the possibility for us to get a bank loan for a 4-room BTO? And if not possible, how can we achieve it? Any advice is welcomed!

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Gabriel Tham

07 Jun 2019

Tag Team Member at Kenichi Tag Team

Try to get an approval in-principle for the home loan first. If both of you can get it, then you will know whats the max you can loan from the bank.

After that you will know if the max loan can allow you to purchase a 4room BTO. You both would probably qualify for quite alot of grants too.

So, check out the approval in principle, work out the finances together, check with the HDB website how much grants you can get.

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HDB loan extremely insufficient for BTO flat. Understand more salary means more loan, how to be sure if we get better salary, we able to get the loan amount needed?

My partner and I just started working full-time for about 2 months, planning to get a BTO 4 room now. Is it the best time to apply for BTO now?

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