The Straits Times answers questions about the cooling measure.
To qualify for an HDB loan, buyers are subject to an income ceiling, currently pegged at $14,000 a month, among other conditions.
This is the third time the LTV limit has been lowered. It was previously tightened from 90 per cent to 85 per cent in December 2021, and then reduced to 80 per cent in September 2022. This means buyers will have to fork out a down payment of 25 per cent of the flat’s purchase price in cash or Central Provident Fund savings.
3. Will successful applicants in the June and earlier Build-To-Order launches be affected by the new measure? Depending on monthly household income, the increase will range from $5,000 to $40,000 for families and from $2,500 to $20,000 for singles.Families with an average monthly household income of $1,500 and below can tap the full $120,000 grant, while singles with a monthly income of $750 and below will get the full $60,000 in financial support.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
askST: How are HDB flats reacquired? Can owners appeal? What happens afterwards?The Straits Times looks at how HDB flats are reacquired for lease infringements.
Read more »
askST: How would reduced loan-to-value limits, larger housing grants affect HDB buyers?The Straits Times answers questions about the cooling measures.
Read more »
‘Vast majority’ of HDB buyers not affected by tighter loan-to-value limit: Desmond LeeThe latest measures will encourage prudent borrowing and dampen demand at higher end of HDB resale market, he said.
Read more »
HDB, condo rents rise in July; condo leasing volume surges 35.1%: SRX, 99.coHDB flat prices were also up in July, rising 1.4 per cent from the previous month.
Read more »
Borrowing resumes at community-funded Casual Poet Library after opening hiccupIt suspended lending services on Aug 6 as it had not secured HDB approval.
Read more »
90% of households in HDB Lease Buyback Scheme received between S$100k and S$300kNine in 10 HDB households who sold part of their lease back to HDB received between S$100,000 and S$300,000. Giving an update on the Lease Buyback Scheme, HDB says that as of June, about 12,600 households have taken it up.
Read more »