The Straits Times answers questions about the cooling measures.
To be 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 measures? HDB will update applicants’ HFE letter to reflect the new grant amount, and will notify them by e-mail.For resale buyers, eligible first-timers who have not yet completed their resale transaction will receive the increased grant.
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