• Hong Leong Finance HDB Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Have you always dreamt of having your own house? Well, now it’s time to turn that dream into a reality with the Hong Leong Finance HDB Home Loan. A host of advantages like flexible loan tenure, high quantum of loan make the HDB Home Loan one of the most popular housing loans in Singapore.

    About Hong Leong Finance Home Loan Singapore

    Hong Leong finance (HLF) was founded in the year 1961 as a Small and Medium Enterprise (SME), which has now evolved as one of Singapore’s largest financial organizations. HLF is the financial services subsidiary of the Hong Leong Group, Singapore and provides financial solutions not only to retail customers, but also business enterprises. With a distribution network of 28 branches, HLF offers an extensive array of financial products and services which range from deposits and savings, corporate and consumer loans, government assistance programmes for SMEs to corporate finance and advisory services.

    The HDB Home Loan is one of the best options available for financing a new home or property. One of the notable benefits which you get with this home loan includes high loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure. Along with that, you also get the flexibility to pay back your loan for a term of up to 30 years or up to your age of 70 years, whichever occurs first.

    Why choose HLF HDB Home Loan?

    To ensure maximum return on your investment and enjoy multiple benefits, you must choose HLF home loan. The HDB home loan offered by HLF provides high loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure. Along with that, you also get the flexibility to pay back your loan for a term of up to 30 years or up to the age of 70 years, whichever occurs first.

    Features and Benefits of HLF HDB Home Loan

    • Provides a loan quantum of up to 80% of the market value or purchase price of the chosen property or infrastructure.
    • Offers flexibility to pay back your loan for a term of up to 30 years or up to the age of 70 years, whichever occurs first.
    • Offers attractive and affordable interest rates
    • The website offers unique features like HDB home loan calculator. It helps you in figuring out the EMI amount depending on the amount and tenure of your loan.

    HDB Home Loan Interest Rates

    Interest rates are one of the most important factors when it comes to home loans, as they determine the EMI which you would be paying to the bank thereafter. HDB Home Loan offers some of the most competitive interest rates in the industry to help you finance your dream of a new home. The interest rates for this home loan is available in two variants – Variable Rate Package and the 2-Year Fixed Rate Package.

    With the Variable Interest Rate Packages, customers will be charged an interest rate of 1.35% per annum for the first year into their loan term, 1.55% per annum into the second year, 2.33% into the third year and finally an interest rate of 3.25% per annum thereafter.

    With the 2-year Fixed Rate Plan, customers will be charged a fixed interest rate of 1.45% p.a in the first year of the loan tenure, 1.65% p.a in the second year of loan tenure, 2.33% p.a in the third year of loan tenure and finally an interest rate of 3.25% p.a thereafter.

    Documents Required To Apply for HDB Home Loan

    In order to apply for the HDB Home Loan, you need to furnish the following documents.

    Basic Documents

    • Completed and duly signed HLF Application Form
    • Copies of the applicant’s NRIC (National Registration Identity Card)
    • Option of Purchase
    • Valuation Report duly signed by the Assigned Valuer
    • Most recent CPF account statement (If CPF usage involved)
    • Recent statement of CPF Public Housing Withdrawal Scheme for an existing property (if applicable)
    • Latest loan statement from your existing financier (in case of refinancing)
    • Option to Purchase for sale for existing property (if applicable)
    • HDB / Bank Account Statement of any existing property (if applicable)

    Income Documents

    Salaried Individuals – Latest CPF Statement of 15 months contribution history & most recent digitized payslip

    Self-Employed Individuals - Last 2 years Notice of Tax Assessment & bank statements for the last 12 months.

    Explore the Other HDB Home Loans Offered By Banks:

    Explore the Other Loans Offered By HLF Bank:

    Frequently Asked Questions (FAQs)

    1. While availing HDB home loan from HLF, if the buying price/purchase price is higher than the valuation, then can the difference be financed?
    2. No, any bridging loan can’t be granted for this amount, and the difference amount must be paid in cash.

    3. Is there a maximum limit on the loan amount that can be borrowed for purchase of a HDB flat?
    4. Yes, you can avail a maximum loan of up to 80% of the purchase price of the flat or its valuation, whichever is lower. The valuation must be determined by an HDB assigned valuer.

    5. Will a bridging loan be granted in case the sale proceeds obtained from my existing flat can’t be used to pay for the new purchase in due time?
    6. Yes, a bridging loan can be granted depending on the assessment of your loan eligibility. Having said that, a bridging loan can’t be granted singularly without a term loan.

    7. Can my CPF Savings be used towards the purchase of the HDB flat?
    8. Yes, you can use CPF savings towards the purchase of a new HDB flat. Not only that, payment for stamp duty, repayment of bridging loan, EMIs, legal fees are subject to CPF Board’s policy on usage of CPF savings.

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