After 3 weeks waiting time, finally received the HDB document endorsement notification and the resale financial plan. As usual, all buyers are required to login into Resale Portal to endorse the document. All parties have to endorse the documents within 6 days included weekend.
Before you endorse, you will be presented an HDB Resale Financial Plan. This financial plan clearly stated how much HDB grants were granted, how much CPF will be deducted, and how much HDB loan granted to you.
The most important section you need to take note is the Balance Payment on Completion. This indicates how much cash you need to fork out if your CPF is not enough to cover the downpayment and legal fees or your valuation value is below the resale price.
Another thing to take note is the Monthly Instalment Payable by CPF and Monthly Instalment Payable by Cash. This will indicates how much cash you need to pay every month.
Next will be the Cash Payments section. If you engaged HDB solicitor to act for you in the resale purchase, there are a legal and caveat fees you need to pay in cash instead of CPF. You have to pay off this amount within the 6 days duration.
Overall, the estimated loan and payment are quite close to what I have been calculated. You can also get an estimated payment through HDB Sales Financial Plan if you not sure how to calculate.
Finally, all parties need to endorse the documents within 6 days. This included your parents if you have applied for the Proximity Housing Grants. Your parents have to login into Resale Portal by selecting ” I am the parent/child of the Proximity Housing Grant recipient (applicable for Acknowledge Documents only) ” and login via SingPass.
Feel free to leave your comment below if you got any enquiry. I would please to help you up if I could.