How do I get an HLE letter?
Where to apply?
- Apply for an HLE letter and upload your documents at www.hdb.gov.sg/hleapply.
- Retrieve your draft HLE application if you have saved one in the last 30 days.
How long does it take to get HDB HLE letter?
about 3 weeks
An HLE letter takes about 3 weeks to obtain. In the event that you do not get the amount you were hoping for, you can basically reverse engineer the process. To do so, start by looking at what factored into HDB’s decision and improve on these factors.
What is a HLE letter?
The HLE letter is a financial planning tool, and will provide information on the: Eligible loan amount. Monthly instalments. Repayment period. Amount of cash proceeds from disposal of the existing or last-owned flat to be used to pay for the next flat (if applying for second HDB housing loan)
Can HLE be used for resale?
For resale buyers, you will need the HLE letter before you sign the Option to Purchase (OTP) and pay the option fee as a deposit and submitted a resale application. Also, you will need the HLE letter before you can apply to take over the ownership of a flat (by way of transfer).
How much can I borrow from HDB?
How Much HDB Loan Amount Can I Get? The maximum LTV for HDB loan is 90%, but you must also consider the MSR and TDSR, which are capped at 30% and 60% respectively.
How do I check my HLE amount?
If you do not have your HLE number, you can also login to My HDBPage using your Singpass account to find out the status of your HLE application. Please click the ‘I Accept’ button if you agree and accept the Terms and Conditions of HDB Loan Eligibility (HLE) Enquiry and wish to proceed with the e-Service.
Will bad credit affect HDB loan?
If you’re applying for an HDB loan, HDB will assess your credit-worthiness as part of the HDB Loan Eligibility (HLE) process. If you have a poor credit score, your loan may not be approved. Or you may not get the full amount you hope to borrow.
What are the documents required for HLE?
Requirements For A HDB Loan Eligibility (HLE) Letter 1) 3 months’ payslips preceding the month of application or recent letter from employer stating job designation, commencement date, and salaries for 3 months preceding the month of application. 2) Latest 15 months’ CPF contribution history.
How do you know if you can afford HDB?
- To check your eligibility and estimated housing loan amount, you may apply for an HDB Loan Eligibility (HLE) letter.
- You will need to have a valid HLE letter when you book a flat from HDB, or obtain an Option to Purchase from a resale flat seller and when you submit a resale flat application.
What is the maximum HDB loan?
Loan-to-Value limit (LTV) For new flats, the LTV limit* is up to 90% of the purchase price. For resale flats, it is up to 90% of the lower of the resale price or value of the flat.
How do I check my HDB installment?
The Statement shows your HDB housing loan transactions and loan balance for the previous year. You can view your current and past years’ statements via My HDBPage using your Singpass. For past statements that are not available, you can submit your request online.
What does a HDB loan eligibility letter ( HLE ) mean?
What Is A HDB Loan Eligibility Letter (HLE)? An HLE letter is an in-principle indication that you qualify for a concessionary housing loan from HDB, based on the information submitted at the point of application. Your HLE will also indicate the maximum loan amount you can take, monthly instalments, and repayment period.
How long does it take to get a HDB HLE letter?
Your submission will be processed within 14 days of receiving the full set of documents, and you can check your HLE letter application status by logging into the HDB website and clicking My Flat -> Application Status -> HLE.
Where can I apply for HLE letter online?
You can refer to the HDB website for the list of required documents if you fall into these categories. All applications for HLE letters are to be made online using HDB’s e-service and logging in using your SingPass. Required supporting documents are also to be uploaded using the online service.
When do you need a HLE for a new HDB flat?
You will need a valid HLE letter when you want to book a new flat from HDB (after successfully balloting for a queue number), or obtain an Option to Purchase from a resale flat seller and submit a resale application, or apply for transfer of ownership of an HDB flat.