|HDB provides housing loans at concessionary interest rate to eligible flat buyers, subject to HDB's credit assessment and the prevailing HDB mortgage loan criteria. |
From 1 Jan 2007, HDB will require all potential flat buyers and transferees who wish to get an HDB concessionary loan to first obtain an HDB Loan Eligibility (HLE) letter. This HLE letter must be obtained before committing to the purchase or transfer of a flat. This will provide prior information on your loan eligibility quantum and monthly instalment to ensure you are able to pay for your home and service the loan without overstretching your finances.
HDB Loan Eligibility Letter (HLE) will give an indication of the loan you are eligible for but the final or NET
loan that is given will depend on HDB's prevailing conditions governing the granting of loans such as
the loan ceiling of 90% of selling price or value of the flat, and the amount of CPF in your ordinary account.
HDB will work out the financial plan for your net loan at the point of (a) selecting a new flat for purchase of a new flat, (b) first appointment for purchase of a resale flat or (c) processing your application for transfer of an existing flat. You can also use the online services in Sales Financial Plan
and Resale Financial Plan
to do an estimate of the final or NET loan amount once you have determined your loan eligibility.
Let us guide you through the process to apply for an HDB Housing Loan:-