Discussion About Single & Hdb Flat Ownership + Hdb Loan (Compiled)

[yoyo74]

I got a e-mail send to me but it looks like results not yet up. Below is the e-mail i receive.

 

Dear Sir/Madam    SALE OF FLATS IN JANUARY 2014 BUILD-TO-ORDER (BTO) EXERCISE            Thank you for your application to buy a 2-room flat at Punggol Vue.    2      Your application has been balloted with a queue position of 801, which exceeds the 304 units of flats on offer. Nevertheless, we will monitor the take-up of the flats during the selection exercise and let you know if there are flats available for your ethnic group before your queue position is due.    3      We would also like to draw your attention to some important information enclosed below. Do take time to read it.    4      We welcome you to participate in our upcoming BTO exercises. You may visit our HDB InfoWEB at www.hdb.gov.sg for the details. We wish you all the best in your journey in buying a home.    Yours faithfully
  LEE YAT THONG
DEPUTY DIRECTOR
SALES OPERATIONS SECTION
ESTATE ADMIN & PROPERTY GROUP
HOUSING & DEVELOPMENT BOARD

[Marineboy]

yoyo74

 

This letter means you have 2 chances in reality.Extremely Slim and none.

There are 304 units available they must be rejected twice over before your queue is up.

I suggest you just apply for the next round n not wait. Best wishes,

[alien]

Yoyo74,

Results already out n u got a queue position 801. But exceeded the 304 units on offer. Meaning u need at least 497 applicants to reject selection the flat then u have chance.

Anyway, u r consider quite lucky lar. Total applications received over 3000 plus n yet u got 801 queue position, a gd start for ur first try for the bto flat. Maybe u will get it in next round bto. Next round bto location is at sembawang & yishun.

[thickhead79]

next round sembawang SK Yishun

 

i wan to try Sembawang!!!

 

if i get to select the flat but i end up not keen 

what is the punishment?

[alien]

If u reject select the flat if there is flat offer for two times, then u will get ban for 1 yr to apply for bto flat.

[thickhead79]

If u reject select the flat if there is flat offer for two times, then u will get ban for 1 yr to apply for bto flat.

holy shit

[alien]

Haha, thts y u also cannot every bto apply even the location u dun really like, cos wht if u r lucky and got the queue position within the flat on offer, then it is consider one chance used up liao, whether or not u have select any flat.

[yoyo74]

Thanks for the explanation. Now i understand what they trying to say in the e-mail. Next March BTO think i gonna choose Yishun cause i got friends live near there.

[alien]

Thanks for the explanation. Now i understand what they trying to say in the e-mail. Next March BTO think i gonna choose Yishun cause i got friends live near there.

Maybe hdb will send u the invitation letter/package for tis bto, but dun get too excited if u received it. Hdb may just play safe in case if there are flat on offered, but i find chances is 0 cos queue no too far liao.

Edited March 1, 2014 by alien

[Guest Guest2508]

My queue number is 3xx, above the 304 units available for the Punggol Vue project.

 

I wonder what are the chance for getting a unit when my appointment comes due. I suspect at best I may have the smaller Type 1 units still available. Sigh. Anyone know what the drop out rate for 2Rm is like?

[alien]

The flat on offered is 304 and if ur queue no is on the low side of 3xx, chance quite high able to select a flat. Just tht whether the flat available on ur appointment day is ur choice or not. As there is smaller version 2 rm flat in tis bto, quite high chance of drop out rate. But i believe even u get to select a flat and left many smaller version 2 rm flat and very low floor bigger version 2 rm flat, maybe u might give up the selection also?

Anyway, no need to think so much, just monitor the take-up rate of the flat and wht are the leftovers when nearer ur appointment date, then u decide wht to do.

[thickhead79]

next BTO in March on Yishun Sembawang and SK

 

what u guys think?

[Guest guest2508]

 But i believe even u get to select a flat and left many smaller version 2 rm flat and very low floor bigger version 2 rm flat, maybe u might give up the selection also?

 

My queue no. is low 3xx, so if more than 10% drop out, I will get to select a unit.

 

Your question is exactly what I'm mulling over, as its likely to happen to me since Punggol Vue has 25% Type 1 units.  I think its a tough call, as the type 1 unit is a bit too small. But then if I have to choose a higher floor Type 1, versus a low floor (2&3 storey) Type 2 unit, I may just pick the former . The thing is I want to stay in Punggol, and there's no guarantee I can get another allocation within a reasonable time period.

 

If you look online at the on-going selection for Admiralty Grove and West Ridges @ Bukit Batok, the bigger units are fast running out, whereas there are still many "choice" units for Type 1. But then Mathilda Edge 2-Rm are fully sold out now, even those 2nd floor Type 1 units facing the expressway.

 

Does anyone have the Type 1 floor plans with dimensions indicated? So far, I have only come across Type 2 plans.

[alien]

Mar bto for 2 rm only have yishun n sembawang. Sengkang only have 4R, 5R n 3Gen flats.

In terms of current location, both location also far from mrt. But if there are going to build a mrt station btw yishun n sembawang, n if the station happen to be somewhere near the coming bto site, then sembawang can consider. The sembawang site in mar bto seems like will develop into many housing, amenity n schools, next time shld be quite lively. Furthermore tis site consider very near to yishun, the main rd will take u to yishun central in abt 5 mins by car.

As for the yishun location, the site shld locate at the current land where there are a huge number of bto flats currently building. Surely need to take feeder bus to mrt n central area. One thing gd abt yishun is the town already quite long, and there are many existing eatery, coffeeshop, market n shops to eat n buy things. There is even one hospital, safra club n country club there.

[alien]

My queue no. is low 3xx, so if more than 10% drop out, I will get to select a unit.

 

Your question is exactly what I'm mulling over, as its likely to happen to me since Punggol Vue has 25% Type 1 units.  I think its a tough call, as the type 1 unit is a bit too small. But then if I have to choose a higher floor Type 1, versus a low floor (2&3 storey) Type 2 unit, I may just pick the former . The thing is I want to stay in Punggol, and there's no guarantee I can get another allocation within a reasonable time period.

 

If you look online at the on-going selection for Admiralty Grove and West Ridges @ Bukit Batok, the bigger units are fast running out, whereas there are still many "choice" units for Type 1. But then Mathilda Edge 2-Rm are fully sold out now, even those 2nd floor Type 1 units facing the expressway.

 

Does anyone have the Type 1 floor plans with dimensions indicated? So far, I have only come across Type 2 plans.

U can get the type 1 floor plans on the hdb website of the bto launch project. I guess eventually no matter whether it is type 1 or 2 still will sold out, due to the high nos of singles 'desperately' wanted to get a bto flat. Also some pple dun mind to stay in a smaller type of 2 rm flat, as maybe the owner dun stay in tht flat often or whtsoever reasons.

Like i said, u shld monitor first n then later make decision when ur appointment date draws nearer.

[Guest guest2508]

U can get the type 1 floor plans on the hdb website of the bto launch project.

 

But those are without dimensions ie. length in meters indicated against all walls. Need that to better gauge whether what sort of furniture layout etc is feasible. I've stayed in 45sm 1-bedroom apt before, and I have looked at the HDB type 2 plans with dimensions. It's pretty well laid out. Only shortcoming I think is that they should only provide 1 entrance from the bedroom to the bathroom.

 

As I may not stay at the apartment throughout the 5yr MOP period, I may just get the smaller unit if no better choice. After the MOP, then go look for better unit. 

[thickhead79]

i also think Sembawang is a good choice

 

but Yishun more near to expressway

the number of traffic light is horrible

[Guest Guest]

But those are without dimensions ie. length in meters indicated against all walls. Need that to better gauge whether what sort of furniture layout etc is feasible. I've stayed in 45sm 1-bedroom apt before, and I have looked at the HDB type 2 plans with dimensions. It's pretty well laid out. Only shortcoming I think is that they should only provide 1 entrance from the bedroom to the bathroom.

 

As I may not stay at the apartment throughout the 5yr MOP period, I may just get the smaller unit if no better choice. After the MOP, then go look for better unit. 

Advisable that you don't apply for any grant if you intend to flip after MOP. More flexibility.

[alien]

U mean if apply for grant, wht wld happen?

[Guest Guest]

 I think its a tough call, as the type 1 unit is a bit too small. But then if I have to choose a higher floor Type 1, versus a low floor (2&3 storey) Type 2 unit, I may just pick the former . The thing is I want to stay in Punggol, and there's no guarantee I can get another allocation within a reasonable time period.

 

 

Well, Punggol has the most plots available for development so I think it's matter of time before you get another chance. They are launching 5000 unitss this year, and probably next year also a lot. Isn't that better than choosing a lousy unit? But to each his own

[Guest Guest]

Yoyo74,

Results already out n u got a queue position 801. But exceeded the 304 units on offer. Meaning u need at least 497 applicants to reject selection the flat then u have chance.

 

I read somewhere that HDB normally give out queue numbers for 2x the no. of units available. So it's different this time round?

[HydroNaut]

Mar bto for 2 rm only have yishun n sembawang. Sengkang only have 4R, 5R n 3Gen flats.

In terms of current location, both location also far from mrt. But if there are going to build a mrt station btw yishun n sembawang, n if the station happen to be somewhere near the coming bto site, then sembawang can consider. The sembawang site in mar bto seems like will develop into many housing, amenity n schools, next time shld be quite lively. Furthermore tis site consider very near to yishun, the main rd will take u to yishun central in abt 5 mins by car.

As for the yishun location, the site shld locate at the current land where there are a huge number of bto flats currently building. Surely need to take feeder bus to mrt n central area. One thing gd abt yishun is the town already quite long, and there are many existing eatery, coffeeshop, market n shops to eat n buy things. There is even one hospital, safra club n country club there.

 

I thought there will be a future mrt station "Simpang" just a stone throw away from that Sembawang site? I am trying for Sembawang anyway....though it is going to be my 4th time trying.

 

I wonder if it is because I opt out the loan part and paying everything full that is why i am always unsuccessful? Cause maybe HDB will choose to give the BTO flats to those who are taking loans so that they can earn from the interest. Nevermind, will try again this round and see how, I quite like the sembawang location anyway.

[thickhead79]

, Finally, planners are also considering building a new station along the North-South Line between Yishun and Sembawang stations to serve future developments.

[alien]

I thought there will be a future mrt station "Simpang" just a stone throw away from that Sembawang site? I am trying for Sembawang anyway....though it is going to be my 4th time trying.

 

I wonder if it is because I opt out the loan part and paying everything full that is why i am always unsuccessful? Cause maybe HDB will choose to give the BTO flats to those who are taking loans so that they can earn from the interest. Nevermind, will try again this round and see how, I quite like the sembawang location anyway.

Dun think so lar. Whether u r paying in full or loan, the queue no still generate by the system. Really like those generating 4D nos, all depends on solely luck.

[alien]

, Finally, planners are also considering building a new station along the North-South Line between Yishun and Sembawang stations to serve future developments.

There is a huge plot of land along tht rd, thts y long ago they have already plan a future mrt station there. Now just depends when will the station build?

Edited March 4, 2014 by alien

[Guest Guest]

My queue no. is low 3xx, so if more than 10% drop out, I will get to select a unit.

 

Your question is exactly what I'm mulling over, as its likely to happen to me since Punggol Vue has 25% Type 1 units.  I think its a tough call, as the type 1 unit is a bit too small. But then if I have to choose a higher floor Type 1, versus a low floor (2&3 storey) Type 2 unit, I may just pick the former . The thing is I want to stay in Punggol, and there's no guarantee I can get another allocation within a reasonable time period.

 

If you look online at the on-going selection for Admiralty Grove and West Ridges @ Bukit Batok, the bigger units are fast running out, whereas there are still many "choice" units for Type 1. But then Mathilda Edge 2-Rm are fully sold out now, even those 2nd floor Type 1 units facing the expressway.

 

Does anyone have the Type 1 floor plans with dimensions indicated? So far, I have only come across Type 2 plans.

 

What is the type 2 dimension? Thanks.

[Guest Guest2508]

What is the type 2 dimension? Thanks.

 

http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/bto-hdb-flats-singles-3887804-25.html

 

But I've seen another plan where the dimensions are somewhat different, although layout is the same.

[Guest Guest]

I thought there will be a future mrt station "Simpang" just a stone throw away from that Sembawang site?

 

Any information link?

[Guest Guest]

http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/bto-hdb-flats-singles-3887804-25.html

 

But I've seen another plan where the dimensions are somewhat different, although layout is the same.

Got it. Thanks.

[alien]

Any information link?

Tis:

www.blog.azacamis.com

Edited March 4, 2014 by alien

[Guest Guest]

What's the estimated monthly installment? Assuming minimum downpayment and 25 years loan tenure.

[thickhead79]

What's the estimated monthly installment? Assuming minimum downpayment and 25 years loan tenure.

what is the flat price?

 

HDB interest 2.6% annual

[Guest guest]

what is the flat price?

 

HDB interest 2.6% annual

one question here....bank rate for housing loan is 1.2--1.8%, depending on which bank, yet hdb is 2.6%, so why would anyone want to loan from hdb?

 

And where bank's housing loan is concerned, is it better to go for fixed rate over a lock-in period, or go for the Sibor or floating rate? anyone with experience in this can advise a novice here?

[thickhead79]

one question here....bank rate for housing loan is 1.2--1.8%, depending on which bank, yet hdb is 2.6%, so why would anyone want to loan from hdb?

 

And where bank's housing loan is concerned, is it better to go for fixed rate over a lock-in period, or go for the Sibor or floating rate? anyone with experience in this can advise a novice here?

bank got more control and check? compare to HDB? i think so

[alien]

So conclusion bank or hdb loan better eh?

[Guest guest]

What kind of controls n checks by bank? I just dont get it why hdb loan is more popukar when its interest rate is so much higher...more than double! By the way, hdb loan only eligible for this monthli incone less than five K. Really baffles me.

[abang]

I think the obvious reason is that HDB takes it time to "recover" your unit if you default in your payment whereas the bank acts swiftly.

[Guest guest]

I think the obvious reason is that HDB takes it time to "recover" your unit if you default in your payment whereas the bank acts swiftly.

 

I think the obvious reason is that HDB takes it time to "recover" your unit if you default in your payment whereas the bank acts swiftly.

ahhh........

 

back to bank loan fixed rate or floating rate or sibor better?

[Guest Guest2508]

Well, Punggol has the most plots available for development so I think it's matter of time before you get another chance. They are launching 5000 unitss this year, and probably next year also a lot. Isn't that better than choosing a lousy unit? But to each his own

 

Agreed. I estimated the room dimensions for the smaller 2-Rm layout. It's really kiichii.... like a rat-hole :yuk: . No way I can stay in there. So, if no Type 2 left when it's my turn, I'll try for the next BTO.

[thickhead79]

HDB can loan up to 90%

Bank only can loan up to 80%

[keyboard]

What is HDB saying in the new ruling? Didn't quite get it, anyone can analyse if it's a good or bad thing for which parties?

[keyboard]

Firstly, HDB loan your income cannot exceed 5k/mth. If exceed, no need to think about HDB loan.

 

HDB loan is quite fixed in terms of %. So you will get a mostly even repayment $$ amount over the 30 years.

 

Bank loan is a floating rate (fixed based on how many years you sign for). Bank rates can go up to 4-5% every month to every 3 months. It can go to as low as less than 1% also. This is based on the SIBOR (how much interest banks loan each other money). Though when giving out the loan, banks use 3% interest rate to calculate how much loan you are eligible for.

 

You also get to loan less (80%) under a bank loan. Prudence is advised, only buy what you can afford.

All loans are inclusive of other loans you have and credits, e.g. car, credit cards all deducted from the total loan amount you can get.

Also note the "not so new" ruling about how many years you can loan for.

 

http://www.dbs.com.sg/personal/homeloans/calculators/mortgage-affordability/default.page

[dannyGuy]

Have a go at this link : http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/A656E10CAFBBD81948257C9700243AC0?OpenDocument

 

I think generally the new rulings are slightly more in favour of buyers in terms of longer time for OTP and that financial arrangements now involve more requirements.

 

Is it good or bad for any party? I think it's more for people to think it through carefully now that they have 21 days.

 

Does anyone know what will happen when interest rates go sky-high to more than 10%, would HDB be allowed to raise their loan interest rates accordingly due to abnormal economic circumstances?

Edited March 10, 2014 by dannyGuy

[keyboard]

Thanks for the link, still don't get why that is better than COV or tries to defocus the COV element. Confusing at best.

 

Having longer days doesn't really matter when i guess different renovation of the house commands different COV. Now they are asking to check the valuations of nearby transactions. Don't know how that helps.

 

HDB rates will change according to market.

Quote.

The HDB concessionary interest rate is pegged at 0.1 percentage point above the prevailing CPF interest rate. It is revised every quarterly, in January, April, July and October each year, in line with the revision in the CPF interest rate.

 

It's just not as erratic as bank rates.

[dannyGuy]

It's also unclear to me too but I can foresee that the buyers would now initiate calling for valuation and with the valuation begin their hunt for a reasonable deal from the banks, that is if they are not seeking HDB loans.

 

aaahhh so it's implied that in some circumstances, HDB can change the prevailing loan rate. People take note.   Exceptional times may call for exceptional measures ~ ~ ~ ~ ~

 

thanks !!

[thickhead79]

example old case

Seller ask valuation and decide how much to sell to buyer

buyer decide how much to pay COV or no COV with seller

 

new case

buyer check online on HDB rate for that area of HDB

talk to seller how much to buy the house, seller issue OTP

valuation come out official 

if buyer have agree to pay 500k and valuation result is 520k, buyer gain

if buyer have agree to pay 500k and valuation result is 550k, ....

 

that all i can think of... not sure correct or not

anyone to help

deposit is from $1-1000

 

that is what i concern

[thickhead79]

Prospective flat buyers are encouraged to obtain in-principle loan approvals 

from banks (for bank loans) or HLE letters (for HDB loans) before they start 

looking for a flat. This will help them understand their budget and look for a 

flat that is within their budget. 

[alien]

Prospective flat buyers are encouraged to obtain in-principle loan approvals 

from banks (for bank loans) or HLE letters (for HDB loans) before they start 

looking for a flat. This will help them understand their budget and look for a 

flat that is within their budget.

Tis new ruling is better or worse for resale market?

[thickhead79]

Tis new ruling is better or worse for resale market?

it forcing cov to drop

it good for buyer

[alien]

Tot cov already dropped or zero before tis new ruling announced?